1 your spouse needs a car and you believe you can afford no, Ask an Expert

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1) Your spouse needs a car and you believe you can afford no more than $350 a month for a 5-year car loan. If the interest rate on this loan is 5% percent, what is the maximum you can afford to borrow to purchase this car?

2) Your employer contributes $100 a week to your retirement plan. Assume that you work for this employer for another 15 years and the applicable discount rate is 7.25%. Given these assumptions, what is this employee benefit worth to you today?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92076057

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