Jenna owns a jewelry business, and she plans to save $500 every month for 3 years to buy precious stones for the business. her savings account earns 2.25% compounded semi- annually. If she puts the money in his savings account at the beginning of every month, what will be the balance in Jenna's account at the end of the three-year term? a. $17,390.19 b. $18,603.37 c. $18,600.50 d. $18,638.25 e. $18,635.22

88) Kathy is buying her first home.  She is financing a total of $185,000 at an APR of 5% for 25 years. How much are her monthly payments? A) $952.33 B) $1,081.49 C) $1,441.23 D) $1,664.85 89) Juanita has determined that the PITI on the house she would like to purchase will be $1,260 per month. What is the minimum gross salary she will need to qualify for a mortgage from a reputable lender? A) $6,300 per month B) $4,500 per month C) $3,500 per month D) $5,040 per month 90) Tran currently makes $4,500 per month in gross income. He has a student loan payment of $250 per month and a car loan of $450 per month. His credit card payments average $300 per month. What is the largest PITI he could qualify for with a reputable lender? A) $620 B) $900 C) $1,260 D) $1,620 91) Bob and Mary Kay have gross household income of $7,000 per month. They both have great credit scores and the home they are interested in buying appraised higher than the selling price.…

Nick invested $2,000 in a bank savings account today and another $2000 a year from now. If the bank pays interest of 10 percent per year, how much money will Nick have at the end of five years? $6,149 $5,221 $4,620 $6,442

Abigail received a 15 year loan of $280,000 to purchase a house. The interest rate on the loan was 5.80% compounded semi-annually. a. What is the size of the monthly loan payment? b. What is the balance of the loan at the end of year 2? c. By how much will the amortization period shorten if Abigail makes an extra payment of $30,000 at the end of year 2?