QUESTION 1

How many years does it take for your money to grow to ten times its original value if the interest rate of 8% per year?

QUESTION 2

Mr. Nadeem owes a total of $3,060 which includes 12% interest for the three years he borrowed the money. How much did he originally borrow?

QUESTION 3

You are thinking of getting a $250,000 30-year fixed-rate loan at 6.5% interest, which would cost you a monthly cash outflow of $1,580. If you needed to reduce your monthly payment on this annuity, you would

		borrow less.
		find a lower rate.
		borrow for a shorter period of time.
		a. and b.
		a., b., and c.

QUESTION 4

Let say Im looking at new car and the amount Im going to finance is $12,000 for 5 years and the interest rate is 3%. How much did you pay in interest?

QUESTION 5

If you deposit $3,600 today into an account earning 9% annual rate of return, what would your account be worth in 20 years?