Frank received an inheritance that he immediately invested in a money market fund earning 3% per year

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Frank received an inheritance that he immediately invested in a money market fund earning 3% per year compounded monthly. He has been taking $600 at the end of each month from the account and expects to deplete the account in 9 years. How much did Frank originally put into the account?

Grace borrowed $10,000 from her aunt. Her aunt is charging her 3.5% annual interest compounded monthly. If Grace can pay her aunt $250 a month, how long will it take her to repay the loan?

Bill bought a new car in January. He made the first payment of $669.04 on February 28. He originally financed $32,230 on a 5-year loan at 9% interest. What is the loan balance if he has made 36 payments?

Gloria is ready to retire and has accumulated $550,000 in her 401(k) account. She is currently 65 and expects to live another 20 years. She believes her account will continue to earn 6%. If she takes equal annual payments at the beginning of each year, exhausting the account in 20 years, how much will she receive each year?

William Fence invested $20,000 in the stock of his brother's oil business. In the first quarter, he received a $225 dividend, nothing in the second quarter, and $115 at the end of the third quarter when he sold the stock back to his brother for $21,000. What was his annual IRR?

J. Fred invested $5,000 in an established company. It paid no dividends the first year. In the second year, he received $25 in dividends. He sold the stock in the third year for $10,500 after he received a $50 dividend. What is J. Fred's internal rate of return?

Peter is investing $250 at the end of each month in an account earning 8% interest compounded monthly. He hopes to accumulate $20,000 so he can quit his current job and start his own business. How long will he have to save to reach his goal?

Pat and Patricia refinanced the mortgage on their home last year and made their first payment on October 30 of last year. They have a $200,000, 15-year, fixed rate mortgage at 6%. If they make all the payments as called for, what is their loan balance on December 31 of this year?