https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b en-us 2021-09-08 08:11:41 UTC 2022-05-11 11:45:30 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/998513612/460dc464ac26796c7da94ab69dd0b170/vignoble_kurdistan_604.jpg nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857006698 1.      You invested $500 and received $650 after three years. What had been the interest rate?

]]> 2021-10-31 17:51:32 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857006698 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857009063 2. To fund Jamie’s lottery winnings of $15,000 per month for the next 20 years, the lottery commission needs to make a single deposit now. Assuming 9.2% compounded monthly, what should the deposit be?

]]> 2021-10-31 17:53:26 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857009063 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857010036 3. How much should I deposit now so that I will have $1,000 in five years, if interest is compounded monthly at 5%?

]]> 2021-10-31 17:54:22 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857010036 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857011363 4.   What will the price of a 3000 IQD taxi ride be in 10 years assuming an annual inflation rate of 4%?

]]> 2021-10-31 17:55:33 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857011363 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857016110 5. Chris and Katie are buying a house and have taken out a 30 year, $200,000 mortgage at 6.8% interest, compounded monthly. What will their monthly payments be?

]]> 2021-10-31 17:59:44 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857016110 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857017222 6. Buying office machines A company’s new corporate headquarters will be completed in 5 years. At that time, $750,000 will be needed for office equipment. How much should be invested monthly to fund that expense? Assume 9.75% interest, compounded monthly.

]]> 2021-10-31 18:00:46 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857017222 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857017810 7. A mother has been saving regularly for her daughter’s college—$25 each month for 11 years. The money has been earning 5% annual interest, compounded monthly. How much is now in the account?

]]> 2021-10-31 18:01:13 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857017810 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857019996 8. Suppose you deposit $900 per month into an account that pays 4.8% interest, compounded monthly. How much money will you have after 9 months?

]]> 2021-10-31 18:03:12 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857019996 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857020504 9. Mary has $200/month available for a house payment.  If she takes out a loan for 15 years at 5%, what is the most expensive house she can buy?

]]> 2021-10-31 18:03:43 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857020504 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857024056 10. Samuel needs 5,000,000,000 IQD in order to retire comfortably.  If he is 22 years old now and want to retire when he is 60, how much should he invest semiannually into an account that pays 4% compounded every six months?

]]> 2021-10-31 18:07:04 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857024056 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857024831 11. Shvan will need $6000 in four years to pay for his final year at AUIS.  How much should he put into an account that pays 7% compounded monthly so that he can finish his education?

]]> 2021-10-31 18:07:40 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857024831 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857025642 12. The managers of a company’s pension fund invest the monthly employee contributions of $135,000 into a government fund paying 8.7%, compounded monthly. To what value will the fund grow in 20 years?

]]> 2021-10-31 18:08:21 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857025642 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857026275 13. Hank’s regular $1,300 quarterly contributions to his retirement account have earned 6.5% annual interest, compounded quarterly, since he started 21 years ago. How much is in his account now?

]]> 2021-10-31 18:08:57 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857026275 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857027008 14. For next year’s vacation, the Phelps family is saving $200 each month in an account paying 6% annual interest, compounded monthly. How much will be available a year from now?

]]> 2021-10-31 18:09:35 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857027008 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857027693 15. You want to set up an education account for your child and would like to have $75,000 after 15 years. You find an account that pays 5.6% interest, compounded semiannually, and you would like to deposit money in the account every six months. How large must each deposit be in order to reach your goal?

]]> 2021-10-31 18:10:16 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857027693 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857028580 16. A woman would like to receive a $500,000 lump-sum distribution from her retirement account when she retires in 25 years. She begins making monthly contributions now to an annuity paying 8.5%, compounded monthly. Find the amount of that monthly contribution.

]]> 2021-10-31 18:11:07 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857028580 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857029066 17. If I invest $10,000 into an account that is compounded annually at 8% for 10 years, how much will I end up with? 

]]> 2021-10-31 18:11:35 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857029066 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857029487 18. Jane owes $1000 on her credit card then sent in $200 on the 15^th of the month. How much interest does owe if the APR is 12% using the adjusted balance method? 

]]> 2021-10-31 18:12:02 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857029487 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857030056 19. Jim will retire in 30 years. He will invest $100 each month for 15 years and then let the accumulated value continue to grow for the next 15 years. How much will be available at retirement? Assume 8%, compounded monthly.

]]> 2021-10-31 18:12:35 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857030056 nancynarbut https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857030861 20. Instead of receiving an annuity of $12,000 each year for the next 15 years, a young woman would like a one-time payment, now. Assuming she could invest the proceeds at 8%, what would be a fair amount?

]]> 2021-10-31 18:13:17 UTC https://padlet.com/nancynarbut/5p5mw7j1mnhg2q6b/wish/1857030861