Question: Question 23 (5 points) Listen [Solve on the paper and submit the copy of your work to the submission folder) Suppose you decide to purchase

Question 23 (5 points) Listen [Solve on the paper and submit the copy of your work to the submission folder) Suppose you decide to purchase a vehicle and borrow $10 000 at 3.5 percent annual interest, compounded monthly, to finance the deal. The agreement requires monthly payments for a period of three years. What is the monthly payment? $700.00 $681.84 $293.02 $569.25 Question 24 (5 points) Listen [Solve on the paper and submit the copy of your work to the submission folder] What total amount (principal and interest) must be paid at the end of four years if $120 000 is borrowed from a bank at 3.8 percent annual rate compounded monthly? $104 059.91 $ 214 082.01 $139 665.68 $141 038.30 Previous Page Next Page Page 12 of 12

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