Question 1

In 3 years you want to have $5000 in the bank, if the interest rate was 8%, how much do you need now?

Question 2

You currently have $5000 in the bank, you plan on keeping it in the bank for 10 years at a interest rate of 5%, how much will you have in 10 years?

Question 3

You currently have a student loan for $12,000 at a 6% interest. You currently pay $222.00 a month and interest compounds 12 times per year. How long will it take you to pay off your loan?

Question 4

You currently have a loan for $5000 due in 60 months with interest compounded monthly. You pay a monthly payment of $93.22. What interest are you paying?

Question 5

You currently have a loan $6000 at 4.5% for 5 years compounding monthly. What is your monthly payment?