You and your spouse have decided that now is a good time to "buy vs. own." You have found a dream house that costs 278970 and you can get an loan-to-value of 89%. Your broker has lined up a traditional, fully amortizing loan at an interest rate of 6 annual, compounded 12/year for a 30 year term. What will your mortgage payments be if you buy the house?

You have taken on a new job that will be extremely intense and not leave much time for vacations. Your significant other is willing to put up with things but wants you to promise to take them on a dream vacation at the end of the 5th year. Since you haven't been able to deliver on these promises in the past, they want you to set aside enough money to cover that cruise which will cost $13835. If you can earn 5% annual, compounded monthly, how much will you have to set aside?

You are putting together a partnership and want to bring in a partner who is very focused on building up his wealth. You have run your cash flows and think you can promise to give him a constant annual dividend of 23109. Assume he can earn 6% compounded 1 times per year on his money. He wants to know what the investment will accumulate to if you run the partnership for 8 years. What will he have accumulated in his account by then?

You are worried about the future of social security and want to start saving. You think you can set aside $1606 per month. You have been offered an investment product on which you can earn 3% annually compounded 12 times per year. How much will this accumulate to if you plan to retire at the end of the 10th year?