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Question 16 (0.15 points) You have credit card debt of $3,000 at 21% APR compounded monthly. If you charge no more purchases to the card and make monthly payments of $300, how many months will it take you to payoff your debt? Your Answer: Answer View hint for Question 16 Question 17 (0.15 points) You have already saved $6775 to buy a used car. You invest this money in a certificate of deposit earning 0.50% APR compounded monthly. How many years will it take your account to reach your target of $7350 in order to buy the new car? Your Answer: Question 18 (0.15 points) How many months will it take you to pay off a loan of $16,000 at 3% APR compounded monthly if you make monthly payments of $1000? Your Answer: Answer D View hint for Question 18 Question 19 (0.15 points) You want to borrow $34,000 to buy a new car. Your annual interest rate is 5.4% over 5 years with monthly payments. Calculate your monthly payment. Your Answer: Answer Question 20 (0.15 points) You are 65 years old and about to retire. You have $100,000 saved in a retirement account and would like to withdraw it in equal annual amounts so that nothing is left after 5 years. How much can you withdraw each year if the account earns 6% interest each year? Your