Question 6 You will have $35,000 in student loans when you graduate. The student loans are to be repaid in monthly installments over a 10 year period and the interest rate is 9% nominal compounded monthly. How much is the monthly payment? Question 7 When you graduate, you plan to save $5,000 each year for your retirement. If you follow this savings plan and the interest rate is 9% per year, how much can you expect to have in your retirement account after 50 years? Question 5 You are going to borrow $25,000 to buy a car when you graduate. The car loan is to be repaid in monthly installments over a 5 year period and the interest rate is 9% nominal compounded monthly. How much is the monthly payment? Question 6 When you graduate, you plan to save $5,000 each year for your retirement. If you follow this savings plan and the interest rate is 10% per year, how much can you expect to have in your retirement account after 50 years of deposits?

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