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Today, you received your tax return and realized that this would be a great opportunity to start saving some money every year for 40 years
Today, you received your tax return and realized that this would be a great opportunity to start saving some money every year for 40 years until you retire. Since you have already made a plan for how to spend this year's return, you will start saving a year from today (still 40 years of contributions). You will invest $3,000 a year into an account that will give you a 5% annual return. How much will you have when you retire? $362,399.32 $383,519.29 $380,519.29 $51,477.26 $122.971.85 You are about to purchase a new car, which will cost you $25,000 after taxes and fees. You are planning to pay a $5,000 down payment and then take out a five-year auto loan at an APR of 4.5%. You will make a monthly payment for next five years starting a month from today. How much is your loan payment each month? $372.86 $296.75 $466.08 $297.86 $371.47 You started working today, and you opened a 401k account with your employer. Your employer will match all contributions to your 401k account on a one-to-one basis. You estimate that you can earn an average annual return of 8%. If you want to have $3,000,000 in 40 years, and you start contributing to your 401k a month from today, how much do you have to contribute to the account each month? $482.52 $859.35 $429.68 $853.66 $287.69 You are considering using Bill Pay to pay your rent, which is $1,200 a month due at the beginning of each month starting today. You are going to put a lump sum of money in a savings account today that will cover your rent for a year. If you earn an APR of 3.6% on the account, how much do you have to deposit into the account? $14,639.99 $14,123.09 $14,683.91 $14,165.46 $13,899.61
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