1. Mary is purchasing a new car that costs $47,999 four years ago. Her loan is at 1.69% annual interest for 54 months. About how much is her loan balance today if she trades her car in for a new car?.
$5,515.10
$5,813.63
$5,793.51
$6,003.19
2. A bond is a ____ asset and a share of stock is a _____ asset.
Mike wants to have $3,500,000 in his 401(K) when he retires in 30 years. If he expects his 401(K) can earn 4.23% annual interest, about how much must Mike invest each year to reach his retirement goal?
$72,412
$60,046
$50.865
$43,524