Mrs Right just purchased a new machine and wants to also set aside cash for future maintenance expenses. The machine has a bumper-to-bumper warranty for the first four years. Right estimates that she will need approximately $3,000 per year in maintenance expenses for years 5-10, at which time she will sell the machine. How much money should Right deposit into an account today, at 1% per month, so that she will have sufficient funds in that account to cover her projected maintenance expenses?

Assuming I deposit my signing bonus of $36,000 at 9% APR, compounded annually, how much will I have upon retirement in 20 years?

An engineer planning for her retirement will deposit 10% of her salary each year into a stock found. The initial balance in her stock found (year 0) is $20,000. If her salary this year is $120,000 (end of year 1) and she expects her salary to increase by 5% each year, what will be the future worth of the found after 25 years if it earns 15% per year? $4,202,290.77 $5,480,462.35 O $5,315,867.58 O $4,138,818.64 O $3,543,911.72

Suppose that you drive 36,000 miles per year and gas averages $3.60 per gallon. What will you save in annual fuel expenses by owning a hybrid car averaging 40 miles per gallon rather than an SUV averaging 12 miles per gallon? If you deposit your monthly fuel savings at the end of each month into an annuity that pays 5.2% compounded monthly, how much will you have saved at the end of six years? Round all computations to the nearest dollar.