1. If Jayci invests $3,750 and receives a 5% interest rate, what will her balance be at the end of the three years?

2. Vy is going to deposit $17,450 into an account that has an annual interest rate of 7%. How much will she have at the end of four years?

3. If Jackson makes a $137,000 deposit with a 9% interest rate, compounded annually, how much will he have in 7 years?  

4. How much money would need to be deposited to earn $105,900 in 15 years with a 5.5% interest rate compounded annually?  

5. If you deposit $7,800 today into an account earning an 8% annual rate of return, what will your account be worth in 30 years (assuming no further deposits)?

6. You are offered Option A: $150,000 today or Option B: $300,000 in 10 years. Assuming you can earn 8% annual interest on Option A, which option should you choose?

7. Your mother just received a $214,000 inheritance. If she invests her money in a diversified equity portfolio returning 8% per year, approximately how long will it take for her to become a millionaire?

 

Question 8 based on Week Two

8. Ethan and Niang have a yearly income of $77,000 and are paying a mortgage on a home worth $183,000. They have two cars worth a total of $30,000, and furniture worth $12,000. The house has a mortgage of $78,000, and the cars have outstanding loans of $5,000 each?

Based on the information above, what is Ethan and Niang's net worth based on the information above?

Answer rating: 100% (QA)

1 If Jayci invests 3750 and receives a 5 interest rate her balance at the end of three years can be calculated as follows 3750 1 005 3 438406 2 Vy is ... View the full answer