1) Determine the amount of money to nearest dollar, you must invest at 6% a year, compound annually, so that you will be a millionaire in 33 years?
2) You take out 30 year mortagage for 95000$ at 9.35%, to be paid off monthly. If you sell your house after 15 years, how much will you still owe on the mortgage?
3) Your pension plan is an annuity with a guaranteed return of 4% per year. You can afford to put 1900$ per quarter into the fund, you will work for 40 years before retiring. After you retire you will be paid a quarterly pension based on 25 year payout. How much will you receive each quarter.