you will receive an annual payment of $13,000 for a period of 10 years. The first payment will be made 4 years from now. What is the present value of this payment stream if the interest rate is 7%?

You get a 20-year $240,000 mortgage loan with an APR of 12% and monthly payments. In 12 years, you decide to sell your home and pay off the mortgage. What is the principal balance of the loan?

You believe that after retiring at 30 years, you will spend $35,000 a year for 15 years. If the interest rate is 6% per year, how much should you save each year until you retire to meet your retirement goal?

Lenny Loanshark receives "1.01 points per week" (i.e. 1.01% per week) on his loans. What APR should consumers be notified? Suppose there are exactly 52 weeks in a year. What is the effective annual rate?