Note: you never need to put a negative (-) sign in front of any answer! When we ask for a dollar ($) amount, we just want the amount, we don't need to know it's inflow or outflow (+/-), as we'll assume this was apparent from the question. Your credit card charges you 18.000% (M) interest. What would be the equivalent semi-annual rate of interest? You take a traditional loan from the bank, borrowing $50,000 for five years. The interest rate is 6.000% (SA). Your semi- annual payments are only interest, and at the end of the 5 years, you then must pay back the bank the original $50,000. What is the semi-annual payment? You take a loan from the bank, borrowing $50,000 for five years. The interest rate is 6.000% (SA). Your semi-annual payments are principal and interest, and at the end of the 5 years, you owe the bank $0 (i.e. FV = 0). What is the semi- annual payment amount? = You successfully saved $1,000,000 for retirement. The money is sitting in a savings account that is earning 7.200%(M). How much can you withdraw from the account per month, taking the account down to a zero value over 35 years