1. Wednesday realizes that she charged too much on his credit card while she was away at the Nevermore Academy and has racked up $5,000 in debt. If she can pay $225 each month and the card charges 17.55% APR (compounded monthly), how long will it take her to pay off the credit card?

2. Rihanna has decided that she wants to build enough retirement wealth that, if invested at 6% per year, will provide her with $3,000 of monthly income for 30 years. To date, she has saved nothing but she still has 25 years until she retires. Rihanna believes that she can earn 6% on her investments until she retires. How much money does she need to contribute per month to reach her goal?

3. Consider that you are 30 years old and have just changed to a new job. You have $91,000 in the retirement plan from your former employer. You can roll that money into the retirement plan of the new employer. You will also contribute $4,800 each year into your new employer's plan. If the rolled-over money and the new contributions both earn a 7% return, how much should you expect to have when you retire in 38 years?

4. As a college student, you have received two credit card offers. The first card has a 17% APR. An examination of the footnotes reveals that this card compounds monthly. The next credit card has a 16.25% APR and compounds weekly. What is the effective annual rate of the cheaper card?

5. You have reviewed your budget and determine that the most you can afford on a car loan is $455 per month. What is the most you can borrow if interest rates are 7% and you can pay the loan over 4 years?

6. A local furniture store is advertising a deal in which you buy a $3,500 living room set with 3 years before you need to make payments (no interest is incurred). How much would you have to deposit each month in a savings account earning 3.5% APR, compounded monthly, to be able to pay the $3,500 bill in three years?

7. Serena Williams deposits $1,500 into an account at the beginning of each year. If she earns 5%, compounded annually, how much will the account be worth in 17 years?

8. Jenna purchases a new house for $300,000. She put 20% down and will finance the rest over 15 years at 4.5%. What is her monthly payment?

9. Starting today, Armando deposits $100 in a savings account at the beginning of each month. If the account earns 6% annually, what is the account value after 6 years?

10. Jamie deposits $10,000 in an account earning 3% interest, compounded quarterly. How much will the account balance be in 7 years?

Thank you.