A professional athlete signs a five-year contract in which the earnings can be modeled by c = 500,000 + 600,000t, where t represents the year. (a ) Find the actual value of the athlete's contract. $ 10,000,000 Correct: Your answer is correct. (b) Assuming an annual inflation rate of 4%, what is the present value of the contract? (Round your answer to two decimal places.)

At graduation, you have a student loan of $18,000. The loan has a fixed annual interest rate of 6.8%, compounded monthly, for 10 years. What will your monthly payments be? (Enter numeric answers to 2 decimal places.)

Alexi made monthly contributions of $450 to his retirement account that earns interest at a rate of 5%/year compounded monthly for 25 years. At the age of 50 he needed to stop contributions to help his parents financially. He made no additional contributions and no withdrawals for the next 15 years, but the money in the account continued to earn interest. How much money is in his account when he turns 65? Use units and context in your answer, round to two decimal places.

A couple plans to save for their child's college education. What principal the parents must deposit when their child is born in order to have $37,000 when the child reaches the age of 18? Assume the money earns 8% interest, compounded quarterly. (Round your answer to two decimal places.)

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You have saved $22,000 for a down payment on a house. Your bank requires a minimum down payment of 15%. What is the maximum price you can offer for a home in order to have enough money for the down payment? (Round your answer to two decimal places.)

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