1. You borrow $50,000 and will make monthly payments for 2 years at 12% Interest. How much will those payments be?
a) $2,354
b) $29,584
c) $3,984
d) None of the above
please show all the steps and explain
2. If you want to have $10,000 in 3 years and you can earn 8%, hoini much would you have to deposit today?
A) $7,938
B) $25,771
c) $12,597
Please explain answer and show all steps