Question
1) How much money will you accumulate by the end of 30 years if you invest $200 per month and you start out with $30
1) How much money will you accumulate by the end of 30 years if you invest $200 per month and you start out with $30 000 in the bank? Assume the interest rate your money earns is 8% per year and you start saving next month.
a) $55 505
b) $30 000
c) $628 131
d) $626 144
2) How much is the monthly payment on a $250 000 loan for 15 years at 10% interest per year? Assume first payment is at the end of the month.
a)$2 687
b)$3 290\
c)$25 000
d)$1 501
3) S.L. Umlord is considering buying a building that produces annual income after expenses of $7 000. He planned to keep the investment for 10 years and wants a 10% return on his investment each year. He will sell the building for 250 000. How much should he pay for the building?
a) $132 938
b) $128 317
c) $143 012
d) $139 398
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