Interest payment due to having good credit score

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Reference no: EM133646515

Questions

1. If Ashley invests $1200 today (One time) at 9% annualized return, how much will she have in 27 years approximately?

2. If Julie invests $100 each month at 9% annualized return, how much will she have in 27 years approximately?

3. Olivia wants to go to a vacation to Greece in 5 years from now and she will need $8000 then. How much will she need to put in today (Lump sum) if her annualized return is 6%?

4. Mason wants to retire in 35 years. If he invests $100 each month and getting 9% annualized return, how much the investment amounts will grow to in 35 years?

5. Cailin wants to buy a $20,000 car and her bank loan amount is $20,000 at 6%/year for 5 years. How much will be the monthly payment amount?

6. Ryn is buying a house and she is borrowing $250,000 from a bank. Because of her good credit, she was able to get 4% mortgage rate instead of current 4.5% market rate for 30 year loan. How much Michelle just saved on the total interest payment due to having a good credit score.

Reference no: EM133646515

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