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9) You are getting a 30year mortgage at an interest rate of 6% per year. If you can pay $2,000 per month, what is the
9) You are getting a 30year mortgage at an interest rate of 6% per year. If you can pay $2,000 per month, what is the most you can borrow?
10) You can save $200 per month. If you earn 12% per year compounded monthly, how much will have after 8 years?
11) If you earn 12% per year compounded monthly and you want to have $40,000 after 8 years, how much must you save per month?
12) If you can save $200 per month and want $40,000 after 8 years, what (annual) interest rate compounded monthly do you need to earn?
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