What Formulas do I use?

46) Veronica has deposited $3,500 into a CD with a 7% annual rate compounding semi-annually. a) What will the balance be after ten years: Round to the nearest cent. b) How much interest will she have carned after ten years? 49) Jose has determined he needs to have $500,000 for retirement in 25 years. His account carns 5% interest compounded monthly. a) How much does he need to deposit each month to meet his goal? b) How much interest will he have earned? 50) You wish to have $5,000 in two years for a nice home entertainment center. How much should you deposit quarterly into a savings account paying 2% interest compounded quarterly? 51) Suppose you have saved $200,000 for retirement. Your account earns 6% interest. How much withdraw each month if you want to be able to take withdrawals for 15 years? 52) When Lauren retires she wants to have enough saved up to withdww $3.000 each month for twenty years. If her IRA carns 7% interest compounded monthly then how much must she save up before retirement? 53) Steven has been approved for a six year car loan at a 7% rate. If Steven can afford $300 a month for the car payment then what is the most expensive car he can purchase? 54) You want to buy a $27,000 car. The dealership is offering a 3% interest rate for 48 months. a) What will your monthly payments be? b) How much interest will you pay cwer the life of the loan? c) If you can afford a down payment of $1,500 what will your monthly payments be? 55) Lynn and Sally took out a $300,000 twenty-five year mortgage at 5% interest with monthly payments. They've been making mortgage payments for ten years. How much do they still owe? 56) Drew and Amy want to take out a $200,000 morts for a new home. The event to the who monthly payments. ) What will the monthly payments be if they take out a 30 year more! b) How much interest will they pay over the life of the 30 year mortgage? c) Suppose they can take out a 20 year mortpage at the same rate. What would their monthly payments be? d) How much interest will they pay over the life of the 20 ycar mortgage? 57) Joe bought a car for $14,000 four years ago. The loan had a six year term at a 4% interest rate, making monthly payments. a) How much are his monthly payments? b) Joe has decided he wants a new car and wants to trade his in. How much does he still owe loan