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Use these factors to answer questions (ROUND ANSWERS TO NEAREST DOLLAR) 1. You want to...

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Use these factors to answer questions (ROUND ANSWERS TO NEAREST DOLLAR) 1. You want to buy a $27,000 car today and will be making monthly payments for the next 5 years. What is your car payment if your borrowing rate is 6% ? $ 2. You want to have $35,000 at the end of 5 years to buy a new car. How much should you save each month to achieve your goal if you can earn 6% ? 3. You invest $15,000 today in an account and will leave the money invested for 4 years. Your average investment rate is 8%, what amount will you have in the account at the end of the 4 years? $ 4. You plan to invest $5,000 every year for the next 4 years. What will be the value of your investment at the end of the 4 years if you can earn 8% annual interest? \$ 5. Your grandparents have decided to give you $25,000 in 4 years for graduate school. Assuming your grandparents are earning 8% annually, how much do they need to invest today so that have the $25,000 to give you in 4 years? $

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