You want to borrow 28500 and can afford monthly payments of, Financial Management

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You want to borrow 28500 and can afford monthly payments of

1. You want to borrow $28,500 and can afford monthly payments of $680 for 48 months, but no more. Assume monthly compounding. What is the highest APR rate you can afford?

A. 9.03 percent

B. 6.81 percent

C. 8.87 percent

D. 7.43 percent

2. Your employer contributes $250 a month to your retirement plan. Assume you work for your employer for 20 years and the applicable interest rate is 9 percent. Given these assumptions, what will this employee benefit amount to on the day you leave the company?

A. $231,928

B. $166,972

C. $140,297

D. $128,927

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