Find the savings plan balance after 18 months with an APR of 9% and monthly payment of $300.
At age 24?, someone sets up an IRA? (individual retirement? account) with an APR of 8?%.
At the end of each month he deposits $85 in the account. How much will the IRA contain when he retires at age? 65? Compare that amount to the total deposits made over the time period.
Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 5%.
How much should you deposit monthly to accumulate $87,000 in 12 years? You should invest __ each month.
Compute the total and annual returns on the described investment. Four years of buying 200 shares of XYZ stocks for $60 per share, you sell the stock for 18,300. The total return is __?
Compute the total and annual returns on the following investment. Nineteen years after purchasing shares in a mutual fund for $5,900, the share are sold for $11,200. The total return is__?
Compute the total and annual return on the following investment. Two years after paying $2,400 for shares in a startup company, you sell the shares for $1,700(at a loss). The total return is__?
Suppose a man invested $200 at the end of 1900 in each of three funds that tracked the averages of? stocks, bonds, and? cash, respectively. Assuming that his investments grew at the rates given in the table to the? right, approximately how much would each investment have been worth at the end of 2011??His investment in the fund tracking stocks would be worth approximately__
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Category
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Average Annual Return
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Stocks
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6.66.6?%
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Bonds
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2.22.2?%
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Cash
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0.60.6?%
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Suppose that on January 1 you have a balance of$5100 on a credit card whose APR is 12?%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1.
a. Calculate your monthly payments.
b. When the card is paid? off, how much will you have paid since January? 1?
Consider a home mortgage of $200,000 at a fixed APR of 4.5?% for 30 years.
a. Calculate the monthly payment.
b. Determine the total amount paid over the term of the loan.
Someone needs to borrow $14,000 to buy a car and the person has determined that monthly payments of $250 are affordable. The bank offers a 44?-year loan at 66?% APR, a 55?-year loan at 6.5?%, or a 66?-year loan at 7?% APR. Which loan best meets the? person's needs? Explain.
A man earned wages of $56,500?, received $2000 in interest from a savings? account, and contributed $3900 to a? tax-deferred retirement plan. He was entitled to a personal exemption of $2600 and had deductions totaling $5470. Find his gross? income, adjusted gross? income, and taxable income.