1. You have to repay your student loan with a balance of $30,000. It will be paid off over 10 years and
has an annual interest of 9%. What is the monthly payment needed if you start your payments at the
end of the month?
2. What will JG Wentworth give you today if he wants to make a 15% return for an inheritance of
$250,000 you will get in 9 years? (You will be selling your inheritance in the future for money
today.)
3. What is the annual rate on a loan balance of $40,000, term of 15 years and a monthly payment of
500?
4. How much would you have if you put $300 at the end of each month into your 401(k) for the next 25
years and you 401(k) balance is currently $100,000 and you earn a 6% annual return?
5. How long will it take you to accumulate 400,000 if you invest $10,000 at the beginning of each year
and earn 7%?
