7. If you took out a four year, 6% APR loan for $24,000, how much will your monthlypayments be?
8. You’re finally ready to buy your first house! Assume the following when considering how much money the bank will loan you:- You have saved $25,000- Your Annual Salary is $45,000- Interest rate on the laon is 4% per year for a 30-year fixed rate loan- Closing Costs are 5% of the loan value- Monthly mortgage payments will be equal to 28% of your monthly income
9. Continuing from the prior question, what is the TOTAL purchase price of the house?
10. If you have $300,000 to deposit and can earn 5% APR, how many monthscan you receive payments of $4,000?A. 65B. 72C. 90D. 98
11. You are planning to retire in 30 years and are planning a 20 year retirement. Prior to retirement, you will save $1400 at the end of each year. If your investments can earn 10% per year over the entire time, how much can you withdraw at the end of each year during retirement?