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Consider that you are 30 years old and have just changed to a new job. You have $91,000 in the retirement plan from your former employer. You can roll that money into the retirement plan of the new employer. You will also contribute $4,800 each year into your new employer's plan. If the rolled-over money and the new contributions both earn a 7% return, how much should you expect to have when you retire in 38 years?

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As a college student, you probably receive many credit card offers in the mail. Consider these two offers. The first card charges a 17% APR. An examination of the footnotes reveals that this card compounds monthly. The second credit card charges 16.25% APR and compounds weekly. What is the effective annual rate for each card?

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