Question: The correct answer is bolded, please show steps to how to sovle each question 12. If a bank offers to pay you a 3% APR

The correct answer is bolded, please show steps to how to

The correct answer is bolded, please show steps to how to sovle each question

12. If a bank offers to pay you a 3% APR compounded continuously, how much do you need to deposit today to have $10,000 in 20 cars? A. S52112 B. $5384 C. S5488 D. S5520 E. $5537 You buy a car today for S27,000. If you finance it with a 6% APR, 4 year loan, what will your monthly payments be? Assume monthly compounding. 13. A. S692 B. $681 C. $658 D. S634 E. $603 14. You buy a car today for S27,000. If you finance it with a 6% APR, 4 year loan, what is the difference in your payments if you agrcc to pay at the beginning of cach month rather than at the end? Assume monthly compounding. A. S3.15 B. $3.39 C. $3.77 D. $3.87 E. $3.98 15. You are saving to buy a car. You can save $200 per month and would likc to buy the car in 4 years. How much more car can you afford if you make your deposits at the beginning of each month rather3 than at the end? Use 6% APR with monthly A. S41 B. $44 C. S54 D. $57 E. S64 16. An investment will pay you $4000 each year for the next 8 years. The investment yields 6% APR, compounded quarterly. How much is the investment worth in 8 years? A. S37,723 B. $38,600 C. S39,590 D. S39,784 E. S40,440

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