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Your goal is to accumulate $1,000,000 over the next 35 years. How much must you save per year if you earn 14%/year?; 10%/year? If you
Your goal is to accumulate $1,000,000 over the next 35 years. How much must you save per year if you earn 14%/year?; 10%/year? If you buy a house for $120,000 and put down 20% percent, what are your monthly payments for a 30-year loan at 6.5%? What are your monthly payments for a 15-year loan at 6%? What are your total interest savings if you pay off your loan over 15-year loan instead of 30-years? If you borrow $50,000 for 10 years at 8%, how much will you owe at the end of (a) Year 1; and (b) at the end of Year 2
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