You have $300,000 saved for retirement. Your account earns 5% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years?

You want to buy a $31,000 car. The company is offering a 5% interest rate for 60 months (5 years). What will your monthly payments be?

You want to buy a $231,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan for the rest. a) How much is the loan amount going to be?

b) What will your monthly payments be if the interest rate is 6%?

c) What will your monthly payments be if the interest rate is 7%?