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1. If I borrow $12,000 from a bank today, at 3.0% interest each year, how much will I owe at the end of 5 years?
1. If I borrow $12,000 from a bank today, at 3.0% interest each year, how much will I owe at the end of 5 years? 2. If my advisor tells me I need $1,500,000 to retire in 20 years, what is the value of that in today's dollars? (Given a 4.5% discount rate) 3. If I save $1000 each year in a retirement fund earning 5.0% interest, how much will I have after 30 years? 35 years? 4. If I buy a house today for $330,000 and home prices increase 6.5% each year, how much will my home be worth in 7 years? 5. If I have a balance of $750 on my credit card, at 22.5% annual interest, compounded daily, how much will I owe after 2 years? 6. If I take out a $24,500 car loan, at 2.5% interest for 5 years (60 months), what will my monthly payment be? 7. If I have $1,500,000 in a retirement account, at a 4.2% discount rate, how much can I withdraw each year for 20 years? 8. If I have $1,500,000 in a retirement account, at a 4.2% discount rate, how much can I withdraw each year forever
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