Rosa Burnett needs $4,000 in three years to make the down payment on a new car. How much must she invest today if she receives 2.5% interest annually, compounded annually?

Wilma wants to buy a car that costs $52,000. She has arranged to borrow the total purchase price of the car from her bank at 6 percent interest rate. The loan requires monthly payments for a period of five years. If the first payment is due in one month after purchasing the car, what will be the amount of Wilma’s monthly payment on the loan?

Kourtney currently works at Bruin Productions and decide to finally plan for the future, she wants to retire in 10 years, but has not saved for retirement. She wants to have $250,000 when she retires in 10 years. How much should she deposit each month into an account that pays 6.1% annual interest, compunded monthly?

Payton wants $5,000 saved in 2 years to make a down payment on a house. How much money should she invest now at 3.2% compounded monthly in order to meet her goal?

Mrs. Jones decides to buy a house.  She pays $40,000 down and pays $1500 per month for 30 years at 4% monthly.  What is the cash price of the house.

Mary wants to have $14000 for a trip to Mexico in five years. How much does she need to deposit at the end each month into an account earning 3.6% compounded monthly in order to have the money she needs?

Megan takes out a car loan for $13,000. She intends to make monthly payments for 5 years to pay off her loan. If the bank charges her an annual interest rate of 4.2% computed monthly on the loan balance, how much will her monthly payments be?

To help buy her new house, Donna is taking out a $271,000 mortgage loan for 30 years at 4.1% annual interest. Her monthly payment for this loan is $1309.47. Fill in all the blanks in the amortization schedule for the loan. Assume that each month is in of a year. Round your answers to the nearest cent.

To finance a vacation in 2 years, Elsie saves $380 at the beginning of every six months in an account paying interest at 13% compounded semi-annually. (a) What will be the balance in her account when she takes the vacation? (b) How much of the balance will be interest? (c) If she waits an additional year to start her vacation, and continues to save the same amount of money, how much more money does she have to spend?

Jenelle bought a home for $370,000, paying 18% as a down payment, and financing the rest at 4.6% interest for 30 years. Round your answers to the nearest cent. How much money did Jenelle pay as a down payment? $   What was the original amount financed? $   What is her monthly payment? $   If Jenelle makes these payments every month for thirty years, determine the total amount of money she will spend on this home. Include the down payment in your answer. $