You borrow 50000 and will make monthly payments for 2 years, Financial Management

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You borrow 50000 and will make monthly payments for 2 years

1. You borrow $50,000 and will make monthly payments for 2 years at 12% Interest. How much will those payments be?

a) $2,354

b) $29,584

c) $3,984

d) None of the above

please show all the steps and explain

2. If you want to have $10,000 in 3 years and you can earn 8%, hoini much would you have to deposit today?

A) $7,938

B) $25,771

c) $12,597

Please explain answer and show all steps

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Financial Management: You borrow 50000 and will make monthly payments for 2 years

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