Cosmo just found a new Cosmobile for $22,000! He paid $3,000…
Cosmo just found a new Cosmobile for $22,000! He paid $3,000 down and financed the rest with a 4-year, 2.9% APR (compounded monthly) auto loan. What is his monthly payment? How much interest will he end up paying over the course of the 4-year loan?
Read DetailsYou look over your retirement plan in 2025 and realize that…
You look over your retirement plan in 2025 and realize that if you follow it perfectly, you will have $625,000 in your Roth IRA in 2050, the year of your retirement. If inflation averages 1.79% annually over those 25 years, what will be the 2025-based value of your retirement funds in 2050?
Read DetailsJoseph and Emma are house shopping and decide on a cozy two-…
Joseph and Emma are house shopping and decide on a cozy two-bedroom home that will cost $165,000. They can qualify for a 15-year loan at 3.2%. They have a $25,000 down payment, courtesy of a wedding gift from Martin Harris. What will their monthly payment be (principal and interest)?
Read DetailsYou bought 100 shares of Purple Barney Inc. stock January 1,…
You bought 100 shares of Purple Barney Inc. stock January 1, 2011 for $38 per share. On December 31, 2015, you sold the Barney stock for $47 per share. Each June you received a dividend of $0.20 per share. Brokerage commissions are $50 for the purchase and $50 for the sale. What was your total cumulative return (in dollars), and in terms of percentage?
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