1. You borrow $1,500 and will repay $1,880 in 3 years. What interest rate is being charged on the loan?

2. You currently have $15,000 in the bank earning 4.7%. How long will it take for you to have $20,000?

3. You want to have $900,000 when you retire in 41 years. If you can earn 7.8%, how much do you need to invest semi-annually until you retire?

4. Which would be the best option: getting paid $6000 every year for the next 10 years or getting paid $88,000 at the end of 10 years, assuming an 8% interest rate? (Show what you are comparing)

5. Congratulations! You won the Texas Lottery. You can choose between getting $1.3 million today or $85,000 each year for the next 25 years. If you can invest your money at 6.5%, which is the best option? (Show what you are comparing)

6. You plan to open a business in 10 years. Today you have $5,000 in the bank and plan to put in $600 every month for the next 3 years. You think you will then be able to put in $1,000 a month for the last 7 years. If you can earn 7.5% on your money, how much will you have at the end of 10 years?