On April 17, 1790, Ben Franklin gifted $1000 to the city ofBoston. If it had been invested at 5% interest (compoundedannually), and left to grow untouched until the same day in 1990that Franklin specified, how much would the gift have been worth,rounded to the nearest dollar?
If you started at age 25 to save $200 per month for retirement,and invested the money in the stock market earning 9% annually, howmuch would you have saved by the time you retire at age 65, exactly40 years later? Please assume monthly compounding, and round to thenearest dollar. (hint: find the PV first, then calculate theFV).
You are looking to buy your first home, and believe you canafford a monthly mortgage payment of $1,200. You expect to applyfor a 30 year fixed rate mortgage at an APR of 4.5%. What is themaximum price of a home you can afford with that payment, roundedto the nearest dollar? Remember not to input any commas.
On April 17, 1790, Ben Franklin gifted $1000 to the city ofBoston. If it had been invested at 5% interest (compoundedannually), and left to grow untouched until the same day in 1990that Franklin specified, how much would the gift have been worth,rounded to the nearest dollar?
If you started at age 25 to save $200 per month for retirement,and invested the money in the stock market earning 9% annually, howmuch would you have saved by the time you retire at age 65, exactly40 years later? Please assume monthly compounding, and round to thenearest dollar. (hint: find the PV first, then calculate theFV).
You are looking to buy your first home, and believe you canafford a monthly mortgage payment of $1,200. You expect to applyfor a 30 year fixed rate mortgage at an APR of 4.5%. What is themaximum price of a home you can afford with that payment, roundedto the nearest dollar? Remember not to input any commas.
