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2-1 On a loan for $25,000 to purchase a new car, what are the monthly...

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2-1 On a loan for $25,000 to purchase a new car, what are the monthly payments at an annual interest rate of 6% (0.5% per month) paid over four years? 2-2 You borrow $20,000 at an annual interest rate of 8%. You will pay the loan back in two equal payments at the end of year 1 and year 4. a. Calculate the amount to be paid each year using the factor tables b. Draw the fully labeled cash flow diagram. c. Complete the following table: Total Interest amountBOY+Interest Payment EOY BOY Balance EOY Balance Year 0 2 3 4

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