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Tom can get a car loan with a term of four years at an APR of 4 . 5 % . If he can afford
Tom can get a car loan with a term of four years at an APR of If he can afford a monthly payment of $ how much can Tom borrow? Assume you start working in your career at the age of Your employer deposits $ each month into a retirement account that pays APR, compounded monthly. a What is your account balance if you retire at the age of b How much was deposited over that time period? c How much interest was earned over that time period? Five years after you purchase shares of a company for $ per share, you sell the shares for a total of $ a Calculate the total return. b Calculate the annual return.
Tom can get a car loan with a term of four years at an APR of If he can afford a monthly payment of $ how much can Tom borrow?
Assume you start working in your career at the age of Your employer deposits $ each month into a retirement account that pays APR, compounded monthly.
a What is your account balance if you retire at the age of
b How much was deposited over that time period?
c How much interest was earned over that time period?
Five years after you purchase shares of a company for $ per share, you sell the shares for a total of $
a Calculate the total return.
b Calculate the annual return.
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