Question
Dawn Chin plans to buy a new vehicle. Her current vehicle will bring 6,000 as a trade-in. She can pay another $2,500 as a down
Dawn Chin plans to buy a new vehicle. Her current vehicle will bring 6,000 as a trade-in. She can pay another $2,500 as a down payment. The vehicle she wants to buy costs $23,700. What would be her monthly payments for a four-year loan at 4.55%?
Multiple Choice
-
$346.96
-
$345.64
-
$538.95
-
$540.98
Mark Moreno is buying a house. The house costs 350,000. He plans to put $70,000 down and borrow the balance at 3.86% for a 30 year fixed rate mortgage. Calculate the principal plus interest portion of his mortgage payment.
Multiple Choice
-
$1,310.05
-
$1,637.56
-
$1642.83
-
$1314.26
You plan to have $1,000,000 in your retirement account when you retire in 28 years. Assume an average annual rate of return of 9.8% compounded monthly. How much will you have to save at the end of each month?
Multiple Choice
-
$568.05
-
$563.45
-
$490.75
-
$495.04
Danielle Desportes plans to invest in a rental property worth $280,000. She plans to hold the property for 4 years and expects to sell it for $294,000 at the end of the fourth year. She estimates that the average monthly net income from the property will be $3,250. Her target return is 8%. Calculate the net present value of the investment.
- $346,840.87
- $347,728.38
- $66,840.87correct answer
- $66,728.38
You plan to have $1,000,000 in your retirement account when you retire in 40 years. Assume an average annual rate of return of 10.5% compounded monthly. How much will you have to save at the beginning of each month?
Multiple Choice
-
$88.08
-
$88.86
-
$134.53
-
S135.70
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