1. The difference in salary between a college graduate and someone with just a high school diploma over a 40-year career would be $64,137 - $36,318 = $27,819 per year. Over 40 years, this would amount to 40 years * $27,819/year = $1,112,760.

2. To calculate the balance in the bank account after 5 years with an APR of 3.25% compounded monthly, we use the formula: $5000 * (1 + (0.0325/12)) ^ (12*5) = $6,761.67

To calculate the balance if interest were paid only once per year, we use the formula: $5000 * (1 + 0.0325) ^5 = $6,550.89

So, the amount would be $6,761.67 - $6,550.89 = $210.78 more if interest were compounded monthly.

3a. $20,000 for 5 years with an APR of 3% compounded annually: $20,000 * (1 + 0.03) ^5 = $22,600

4. $15,000 for 20 years with an APR of 3.7% compounded annually: $15,000 * (1 + 0.037) ^20 = $38,061.20

5. $25,000 for 30 years with an APR of 4.2% compounded quarterly: $25,000 * (1 + (0.042/4)) ^ (4*30) = $85,929.86

6a. $12,000 with an APR of 3.5% compounded continuously for 1 year: $12,000 * e^ (0.035) = $12,420 For 5 years: $12,000 * e^ (0.0355) = $14,205.64 For 20 years: $12,000 * e^ (0.03520) = $27,575.66

7. $3000 with an APR of 3% compounded continuously for 1 year: $3000 * e^ (0.03) = $3090 For 5 years: $3000 * e^ (0.035) = $3,485.69 For 20 years: $3000 * e^ (0.0320) = $7,792.42

Loan: The total amount borrowed is fifty thousand dollars. Years needed to break even: 5 years a 6% interest charge is owed. The cost for each month is $966.49 Credit Card Debt: The total sum that is due is $5,000. Interest rate: 24% the total amount of interest paid is $1,200. Mortgage/Rent/Building: $5,000 is the monthly revenue. The amount due each month is $2,000 Taxes on Income: Total income: $50,000 Payable taxes amount to $6,000 Federal Budget Expenses: Total spending: $270,000 Social Security, Medicare, Medicaid, Education, Defense, and a host of other programs and services are among those that get funding. Budget cuts: Cutbacks in expenditure on services and initiatives that aren't absolutely necessary Measures that will generate revenue: Raise all applicable fees, taxes, and the like. The best way to prevent a deficit is to cut expenditure by $20,000. To raise more money, an increase in taxes of $20,000 is recommended. Improve productivity to the tune of $20,000 Develop a strategy to lower the deficit by $20,000 over the long term and put it into action. Maintaining a surplus requires placing a high priority on necessary services and keeping expenditure below $20,000 per month. To raise more money, an increase in taxes of $20,000 is recommended. Decrease by $20,000 the amount of money spent on services and initiatives that are not required. Develop a strategy with a long-term view to keep the surplus at a level of $20,000 at all times. Alternatives for Savings and Investments: Spending Plan and Follow It Strictly by $20,000 Create a savings account, and beginning putting money away on a monthly basis until you reach $20,000 Do some research on the many kinds of investments available and figure out which ones would benefit you the most if you had $20,000 to invest. Invest a total of $20,000 in various financial assets, including stocks, bonds, and mutual funds. 3 Save up money for your retirement by opening a 401(k) or an IRA account with a minimum deposit of $20,000.