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1) What is the future value of $500 a month invested for 10 years at 7% interest (starting with nothing)? 2) Susan is buying
1) What is the future value of $500 a month invested for 10 years at 7% interest (starting with nothing)? 2) Susan is buying a house and needs to borrow $140,000. The loan will be financed at 6.5% interest. If she is going to be making monthly payments for 20 years, what will her payment be? 3) BCD Corporation is going to place $100,000 into an annuity. Then, it is going to add $25,000 a quarter to the annuity for the next 15 years. If the annuity draws 9% interest, how much will it be worth at the end of the time?
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