#2, 3, 4, 5, 6, 7

1. You are considering purchasing a ski condo in Utah 10 years from now. You find one you like today that sells for $125,000. If you expect real estate prices to rise 4% per year in Utah, how much would you expect a comparable condo to cost in 10 years? 2. Now assume the condo will cost $175,000 in 10 -years. If you could earn 7% on an investment, how much per year would you need to save in order to buy the condo? 3. Still assuming the condo will cost $175,000 in 10 -years. If you could earn 7% on an investment, how much per month would you need to save in order to buy the condo? Why is it not the answer in #2 divided by 12? 4. Now assume you can save $750 per month and a stated 7%. How much would you have saved at the end of 10 -yrs? 5. If you could save the same $750 per month, what rate of interest (APY) would you need to earn to have the $175,000 in 10 years? 6. If when the time comes to buy the condo, you need to borrow $50,000. If mortgage rates at the time are 5.5% for a 30yr fixed mortgage, what would be the monthly payment? 7. Assume the mortgage payment 10 years from now is $300 per month and you expect inflation to average 3% annually over the next decade. What would the $300,10 years from now, be worth today