You have the opportunity to invest $6,000 today in a fund that you hope will be worth $12,000 after 9 years. What approximate annual rate of return are you earning on this investment? (Beginning of Period)
A. 8%
B 100%
C. 11%
D. Not enough information provided
Kai invested $3,000 in her investment account today. Her account earns an average rate of return of 6% compounded 4 time(s) per year. She is in the 20% marginal tax bracket. How much will she have in her account after 10 years after she accounts for income taxes? (Beginning of Period)
A. $1,323
B. $3,482
C. $4,834
D. $5,442
Katriona graduated from college with $20,000 of student loans. The loan will be repaid over 10 years at an annual interest rate of 8.0 percent. What is the monthly loan payment for this student loan? Remember, loans are END of period.
A. $242.66
B. $2,980.59
C. $292.66
D. $166.67
