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25. AUTO FINANCING Lup made a down payment of $8000 toward the purchase of a...

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25. AUTO FINANCING Lup made a down payment of $8000 toward the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 6%/year compounded monthly. Under the terms of her finance agreement, she is required to make payments of $420/month for 36 months. What is the cash price of the car? 29. PURCHASING A HOME Refer to Exercise 27. If the Johnsons decide to secure a 15-year mortgage instead of a 30-year mortgage, what is the price range of houses they should consider when the local mortgage rate for this type of loan is 5%? 33. Roth IRAs Suppose that Jacob deposits $3000/year for 10 years into a Roth IRA earning interest at the rate of 5%/year, compounded annually. During the next 10 years, he makes no withdrawals or no further contributions, but! the account continues to earn interest at the same rate. How much will Jacob have in his retirement account at the end of the 20-year period

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