Beginning $1$ year from now, you want to be able to withdraw $$1,700$ each year from your bank

account to cover college expenses. The account pays $\mathrm{.}45$ percent interest per year. How much do you

need to have in your account today to meet your expense needs over the next four years?

A$.1,730\mathrm{.}81$

B$.$ None of the items listed are the correct answer$/$I don't know how to do this question

C$.$ $$6,800\mathrm{.}00$

D$.$ $$6,678\mathrm{.}96$

E$.$ $$6,724\mathrm{.}18$

You want to be a millionaire when you retire in $40$ years and can earn an annual return of $12\mathrm{.}5$

percent. How much more will you have to save each year if you wait $15$ years to start saving versus if

you start saving at the end of this year?

A$.$ $$5,809\mathrm{.}13$

$-$B$.$ $$6,943\mathrm{.}44$

C$.$ This question cannot be answered with the information given

$N=40$

$\frac{\text{I}}{y}=12\mathrm{.}5\%$

$Fv=1,000,000$

D$.$ $$8,077\mathrm{.}75$

E$.$ $$1,134\mathrm{.}31$

You want to borrow $$50,000$ and can afford annual payments of $$11,000$ for $5$ years, but no more.

Assume annual compounding. What is the highest Annual Percentage Rate you can afford?

A$.10\mathrm{.}00$ percent

$N=5$

B$.9\mathrm{.}01$ percent

$\frac{1}{Y}=0\%$

C$.35\mathrm{.}37$ percent

$Ev=11,000$

D$.1\mathrm{.}1$ percent

$PV=$

E$.3\mathrm{.}26$ percent

$PMT=$

Stephan has opened a savings account with $$1.$ At the end of each year he deposited $$1,000.$ He plans

on depositing the same amount $$1,000$ each and every year for a total of five years. The interest rate

earned will be $5\%$ compounded annually. How much will Stephan have in his account at the end of

the five$-$year period of time? $($round to the nearest dollar$)$

A$.$ $$5,527$

B$.$ $$5,251$

C$.$ $$7,142$

D$.$ Cannot complete the question with information given.

E$.$ $$5,000$

$N=$

$\frac{\text{I}}{y}=$

$FV=$

$PV=$

$PMT=$