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1. Gabby deposits $1,500 annually into a Roth IRA account that earns 3.45% compounded annually. After tweleve years, Gabby changes jobs and withdraws the money.
1. Gabby deposits $1,500 annually into a Roth IRA account that earns 3.45% compounded annually. After tweleve years, Gabby changes jobs and withdraws the money. How much is in the account? A=19,258.23, B=20,698.11, C=24,971.46, D=21,840.53 2. You buy an iphone 12 for $800 and agree to pay for it in 24 equal montly payments at 3.5% interest per month on the unpaid balance. How much are your payments? A=49.82, B=47.12, C=41.98, D=39.24 3. You buy an iphone 12 for $800 and agree to pay for it in 24 equal montly payments at 3.5% interest per month on the unpaid balance. How much interest will you end up paying? A=395.68, B=125.97, C=279.32, D=Nothing 4. A family purchased a home ten years ago for $80,000. The home was financed by paying 20% down and signing a 30-year mortgage at 9% on the unpaid balance. The net market value of the house is now $120,000 and the family is selling the house at that market value. How much equity, to the nearest dollar, does the family have in the house now after making 120 montly payments? A=57,235, B=62,765, C=74,298, D=21,699
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