Question: Problem 7(9 points) A. You just graduated and you are going to buy a car. You are going to make five (5) annual payments in

Problem 7(9 points) A. You just graduated and you are going

Problem 7(9 points) A. You just graduated and you are going to buy a car. You are going to make five (5) annual payments in the amount of $2.774. The interest rate is 12%. what is the value of the car today? (Round your answer to the nearest dollar.) Using the answer in (A) above, how much would be the QUARTERLY payments for the car? B. C. Using the answer in (A) above, how much would be the MONTHLY payments be for the car? D. How much are you paying in interest if you make yearly payments? (This relates to question A) E. How much are you paying in interest if you make quarterly payments? (This relates to question B.) How much are you paying in interest if you make monthly payments? (This relates to question C.)

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