1.During a prolonged recession, property values in Le Beau depreciated by 2% every six months. If a house cost $320,000 five years ago, how much is worth today?

2. I plan to be earning $175,000 when I retire in 30 years. I have been offered a job that guarantees an annual salary increase of 3.6% per year. What salary should I ask for in order to meet my retirement goals?

3. inflation is running at 3% per year when you deposit $1000 in an account earning 5% compounded annually. In constant dollars, how much money will you have two years from now?

4. Inflation is running at 1.2% per year when you deposit $11,000 in an account earning 6% compounded monthly. In constant dollars, how much money will you have four years from now?

5. Mirra has taken out a 30-yea r mortgage for $229,000 at 7.9% compounded monthly. If she decides to sell the house after 10 years, how much will she still owe on the mortgage?

6. Lee takes out a $75,000 loan for 30 years. The terms of the loan state that the first five years are at 5% and the remaining twenty - five years are at 9.5%. Determine the monthly payments for the first five years and then for the remaining twenty - five years.

7. Alicia takes out a $96,000 mortgage for 30 years at 9.75%. After 4 years, she decides to refina nce the remaining principal for another 30 years at 6.875%. What was her original monthly payment? What is her new mortgage payment ?