D. You bought a house 8 years ago with a $250,000 mortgage. It was a 15 year loan with monthly payments which will pay off the loan when you make the...
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D. You bought a house 8 years ago with a $250,000 mortgage. It was

a 15 year loan with monthly payments which will pay off the loan when you make the last payment. The interest rate was 6%. What are your monthly payment and your current loan balance? How much interest will you pay in the upcoming year?


E. You want to retire as a millionaire. How much do you need to put away each month if:
a. You use common stocks and have an average return of 10%?
b. You use corporate bonds and have an average return of 6%?
c. You use government bonds and have an average return of 4%?
d. You put your money in a CD at 2.5% interest rate?
(at age 45, please solve for saving a $100,000)


F. You are offered a contract with a signing bonus. If they offered you either $215,000 in cash or $2000 a month for 15 years, guaranteed, which do you take( based strictly on the math)? Your safe rate of return is 7.5%.

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