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1. You want to be able to withdraw $35,000 each year for 25 years. Your account...

1. You want to be able to withdraw $35,000 each year for 25 years. Your account earns 5% interest.

a) How much do you need in your account at the beginning?
b) How much total money will you pull out of the account?

c) How much of that money is interest?

2. You want to buy a $23,000 car. The company is offering a 2% interest rate for 48 months (4 years). What will your monthly payments be?

3. Suppose you want to have $700,000 for retirement in 30 years. Your account earns 6% interest. How much would you need to deposit in the account each month?

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