Question: Please show work for all questions 8. KCT Hardware Store is thinking about borrowing money to buy a new truck. How much will you be
Please show work for all questions
8. KCT Hardware Store is thinking about borrowing money to buy a new truck. How much will you be able to borrow, if the loan carries 8% APR, payments must be made at the end of each month, you can afford to pay $320 per month, and you plan on taking a 4-year loan? A) $13,751.00 B) $12,981.00 C) $14,316.34 D) $13,107.81 9. After completing your first year at your new job, your company elects to pay you a bonus of $30,000.00 (assume no taxes are taken out). You and your financial advisor work out a plan to invest the entire amount. Assuming your rate of return will be 6\%, how many years will it take to reach $38,114.67? A) 2 years B) 3 years C) 4 years D) 5 years 10. As the CFO for Stevenson Construction Company, you need to buy 3 new dump trucks. Each truck will cost the company $45,000. The bank is offering you a term of 5 years and an interest rate of 5.50%. What will your monthly payment be? 11. You made a decision to purchase a home in 4 years. You have $15,000 in the bank and immediately elect to make another deposit of $5,000. Assuming you earn an interest rate of 4% How much will you have for your total deposit in three years
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