Q1. You invest $1,384 at the beginning of every year and your friend invests $1,384 at the end of every year. If you both earn an annual rate of return of 07.00%.

a) how much will you have in your account after 12 years?

b) How much will your friend have in his account?

Q2. You currently have $2,486 in a retirement savings account that earns an annual return of 06.00%. You want to retire in 46 years with $1,000,000. How much more do you need to save at the end of every year to reach your retirement goal

Q3. You currently owe $4,066 to your credit card that charges an annual interest rate of 22.00%. You make $165 of new charges every month and make a payment of $155 every month. What will your credit card balance be in three months?