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Comments Chapter 5 Warm Up Your Calculators - Compatibilty Mode - Word Search File Home Insert Design Layout References Malings Review Vic Help PDFescape Desidep Creator Ariel G A A A A E L 1 dald AaBbc Aalbo AaBel AalbCD AaBBC AaBbc absce dalbel Albac AaBDC AABICC AABUCC ABC Biu. *** A 2-A ==== Emphases - Heading - Normal Strong Subtitle - Title 3 Format Painter No Space. Subtle Em. Intense ... Cuote herse. Subtle Rentenseite. Book Title Font Paph AutoSaveDr) H90 SIGN IN TO OFFICE cok like your stored credentials we out of dair Clasesinin en werverly your sherristinn Sign in Share Find bastore X Cut COPY Paste Bitte Warm Up Your Calculators' First a little prachce to make sure we remember what we did last time 3.1 How much money do you need to have in the bank to pay for a 4 yra llege degree if tuition is $12.000 per year and your bank gives you 4% interest Lumpsum 9.) What is the effective annual rate on a 18% APR loan it interest is compounded monthly? 1.) What is the value three years from now of a bark deposit of $1500 if interest is compounded annually at a rate of 6.1556. Stumper 2) What if the interest rate drops to 2% 3) Supanc your grandmother invested S1000 for you when you were born. If the investment earns 8% per year what will it be worth on your 21 birthday? 10 ) How much do you need to in cach month far 30 veals in order to retire on 145.000 a year for 20 years assuming an interest rate of 10 4.) How much money would you have to put aside today in order to buy a new auto for $45 000 five years from raw if interest rates are currently 7% 5) Suppose Third First Bank is offenng a CD that will pay you $10,000 in 3 years if you deposit $7.939. 32 today What is the expectedrale af return? Annuities 6) Who wants to be a millionaire? Hun much would you have to put away at the end of each year to have $1,000,000 assuming you retre in 45 years and can eam 7% on your money 7) What if you made your deposit at the beginning of the year? Page 1 of 2 273 words Citan - - 71%