The government imposed a fine on the Not-So-Legal Company. The fine calls for a payment of $100,000 today, $150,000 one year from today, and $200,000 two years from today. The government will hold the funds until the final payment is collected and then donate the entire amount to charity. The government has agreed to pay annual interest of 3 percent on the held funds. How much will be donated to charity in two years?

$475,000.00

$460,590.00

$447,174.76

$451,050.05

$474,407.70

You borrow $199,000 to buy a house. The mortgage rate is 5.5 percent, compounded monthly. The loan period is 30 years, and payments are made monthly. If you pay for the house according to the loan agreement, how much total interest will you pay?

$218,086

$198,161

$207,764

$211,086

$185,059

Theo is depositing $1,300 today in an account with an expected rate of return of 8.1 percent. If he deposits an additional $3,200 two years from today, and $4,000 three years from today, what will his account balance be ten years from today?

$14,044.89

$16,412.31

$15,182.53

$15,699.54

$17,741.71

You plan to save $2,400 a year and earn an average rate of interest of 5.6 percent. How much more will your savings be worth at the end of 40 years if you save at the beginning of each year rather than at the end of each year?

$17,822.73

$18,821.10

$18,911.21

$19,103.04

$18,115.31

On the day you retire, you have $389,900 in your retirement savings. You expect to earn 4.5 percent, compounded monthly, and live 24 more years. How much can you withdraw from your savings each month during your retirement if you plan to die on the day you spend your last penny?

$2,181.96

$2,092.05

$2,398.17

$2, 072.00

$2,216.29