13. Many IRA funds argue that investors should invest at the beginningof the year rather than at the end. What is the difference to an investor’s retirement account if she invests $3,000 per year at 10 percent over a30-year period?
14. If you earn 0.5% per month, what is your Effective Annual Rate?
15. You buy a boat today for $26,000. If you finance it with a 6% APR, 4year loan, what will your monthly payments be?
16. A real estate firm sold 14 houses last month. Assume their sales increases 2% per month, how many houses will they be selling per month in 4 years?A. 28 B. 31 C. 36 D. 41 E. 46
17. You have $2,900 today. If you earn 2% per month how much will you have in 3 years?
18. An insurance policy will pay you or your heirs $2500 a year forever. If the first payment is received 18 years from today and the discount rate is 8%, what is the total value of the policy today?