I now have $20,000 in the bank earning interest of .5% per month. I need $30,000 to make a down payment on a house. I can save an additional $100 per month. How long will it take me to accumulate the $30,000? (Round your answer to 2 decimal places.)

Jill wants to make a few deposits so that she can withdraw $5000 per year at the end of each year for the next 15 years.  A deposit of X is made a year from now, a second deposit of 2X is made at the end of year 4, and a deposit of (X/2) is made at the end of year (5+4).  What is the amount of X if the goal is to empty the account?  Use 6% interest.

Peter has borrowed $8,600 to pay for his new car. The annual interest rate on the loan is 7.4 percent, and the loan needs to be repaid in four payments. What will be his annual payment if he begins his payment today now? (Round to the nearest dollar.)   a. $2,850 b. $2,656 c. $2,385 d. $2,448

You are saving for a new house. You place $55,000 into an investment account each year for five years. How much will you have after five years if the account earns (a) 3%, (b) 5%, or (c) 7% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) a. b. C. Annuity Payment $ 55,000 55,000 55,000 > Answer is complete but not entirely correct. Annual Rate 3% 5% 7% Interest Compounded Annually Annually Annually Period Invested 5 years 5 years 5 years Future Value of Annuity $ 63,760.07 X 70,195.49 X 77,140.35 x