Question 9

Fred will need $3,000,000 in 40 years to retire. Assuming that he can achieve an annual return of 6%, approximately how much would he need to put away today?

Group of answer choices

522,330

291,667

70,755

256,653

Question 10

Lissy is looking to purchase a new car for $24,500. The dealership is offering a 2% APR for 5 years. What will her approximate monthly payments be?

Group of answer choices

430

408

449

416

Question 11

Quintan's grandfather convinces him to hold his savings of $10,000 in cash. Assuming the average inflation rate is 3.12% every year, what will the real value (inflation adjusted) of Quintan's cash be at the end of five years?

Note: please enter your answer without a "$" sign to be correctly graded by canvas.