# If they add \$2,000 to that account annually, how much will they have accumulated in 15 years?

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If they add \$2,000 to that account annually, how much will they have accumulated in 15 years?

a. Steve and Jackson have \$4,000 to deposit in a money market fund earning 5%. If they add \$2,000 to that account annually, how much will they have accumulated in 15 years? (Show all work.)

b. Carey has \$2,000 for a down payment on a vehicle and she can afford monthly payments of \$400. She wants to finance a vehicle over no more than 4 years. If lenders are currently offering loans at 6 percent interest, what is the maximum price Judy can pay for a vehicle?

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c. Pat would like to know the monthly payments and the total finance charges on the following 2 loans: (Show all work.)

A.. \$30,000, 9%, 36 months
B. \$30,000, 9%, 48 months

d. Your mortgage payment is \$1,500 per month. Of this amount, insurance is \$50, property taxes are \$200, and interest is about \$1,100. Assuming you have other itemized deductions that already exceed your standard deduction and that you are in the 31% marginal tax bracket, what is the reduction in your tax liability as a result of owning a home with this mortgage. (Show all work.)

If they add \$2,000 to that account annually, how much will they have accumulated in 15 years?

If they add \$2,000 to that account annually, how much will they have accumulated in 15 years?

If they add \$2,000 to that account annually, how much will they have accumulated in 15 years?

If they add \$2,000 to that account annually, how much will they have accumulated in 15 years?

If they add \$2,000 to that account annually, how much will they have accumulated in 15 years?

If they add \$2,000 to that account annually, how much will they have accumulated in 15 years?

If they add \$2,000 to that account annually, how much will they have accumulated in 15 years?