A house is sold for $300,000 and appraised for $290,000. What down payment will be needed to qualify for a conventional mortgage? a. $58,000 b. $60,000 c. $67,320 d. $68,000

Julian is a student relying on student loans. He feels he would like to borrow an extra $4350 each year for the next four years to take vacations to recover from studying. Assume that no interest accrues until he completes his education and begins paying off the loan. The interest rate for the loan amount will be seven percent per year compounded monthly and he will pay it off over five years by making end of month payments. What would his monthly payment be on this loan? a. $342.54 b. $330.51 c. $344.54 d. $353.64

Approximately how much would you need to invest today, to receive $230 in ten years, if you received an annual interest rate of ten percent? a. $98 b. $89 c. $80 d. $106