Question
PLEASE ANSWER EVERY QUESTION! 1. If Amy invests $3,750 and receives a 5% interest rate, what will her balance be at the end of the
PLEASE ANSWER EVERY QUESTION!
1. If Amy invests $3,750 and receives a 5% interest rate, what will her balance be at the end of the three years?
2. Kayleigh is going to deposit $17,450 into an account that has an annual interest rate of 5%. How much will she have at the end of four years?
3. If Victor makes a $137,000 deposit with a 9% interest rate, compounded annually, how much will he have in 8 years?
4. How much money would need to be deposited to earn $105,900 in 15 years with a 5.5% interest rate compounded annually?
5. If you deposit $18,800 today into an account earning an 8% annual rate of return what will your account be worth in 30 years (assuming no further deposits)?
6. You are offered Option A: $150,000 today or Option B: $300,000 in 10 years. Assuming you can earn 8% annual interest on Option A, which option should you choose?
7. Your mother just received a $314,000 inheritance. If she invests her money in a diversified equity portfolio, returning 8% per year, approximately how long will it take for her to become a millionaire?
8. Jacob and Shelby have a yearly income of $99,000 and are paying a mortgage on a home worth $237,000. They have two cars worth a total of $25,000 and furniture worth $15,000. The house has a mortgage of $184,000, and the cars have outstanding loans of $15,000 each
Based on the information above, what is Jacob and Shelby's net worth based on the information above?
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