Reference no: EM131927917

Problem 1: You want to take a massive vacation in 15 years around the world. You anticipate that the trip will cost $30,000. In order to afford the trip, you begin to put money into a savings account each week which pays 2% annually. How much do you need to put in each week to afford the trip?

Problem 2: You decide to purchase a car. You agree to pay $515/month for 4 years at an annual rate of 2.9%. Calculate both the price of the car and the total interest you will pay.

Problem 3: Sam purchases a car for $31,500. He is deciding between a 4 year (48 month) loan and a 6 year (72 month) loan. The 4 year loan carries an annual rate of 3.15% while the 6 year loan carries a rate of 4.15%. Calculate how much the payment would be each month for both loans in addition to how much interest Sam would pay for each as well.