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P 4-45 (similar to) E Question Help You are looking to buy a car and can afford to pay $190 per month. If the interest rate on a car loan is 0.73% per month for a 60-month loan, what is the most expensive car you can afford to buy? The amount that you can afford is S. (Round to the nearest dollar.)P 4-22 (similar to) Question Help You figure that the total cost of college will be $93,000 per year 18 years from today if your discount rate is 6% compounded annually, what is the present value today of four years of college costs starting 18 years from today? The present value today of four years of college costs starting 18 years from today is (Round to the nearest dollar.)P 4-23 (similar to) Question Help * Assume that Social Security promises you $47,000 per year starting when you retire 45 years from today (the first $47,000 will get paid 45 years from now). If your discount rate is 8%, compounded annually, and you plan to live for 15 years after retiring so that you will receive a total of 16 payments including the first one), what is the value today of Social Securitys promise? The value today of Social Securitys promise s (Round to the nearest cent.)

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maximum you can affordPMT1(1/1+n))/r $9,205 190* (1-(1/(1.0073A60)))/0.007

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