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Suppose that between the ages of 22 and 34, you contribute $3000 per year to a 401(k) and your employer contributes $1500 per year on your behalf. The interest rate is 9.2% compounded annually. What...

Griff's property tax is $601.91 and is due April 10. He does not pay until June 21. The county adds a penalty of 7.9% simple interest on unpaid tax. Find the penalty Griff will pay. (Assume there...

If you had a fund with a Year 1 return of +30% and a year 2 return of -30%, what is this fund's a) average annual return for the two years and b) actual return for the two year period?

Using the average daily balance method and the information given, find the credit card average daily balance for the month of August (31 days). The annual interest rate is 18%.   July...

A credit card company uses the average daily balance method to calculate its finance charges. Find the finance charge for the month of August (31 days) if the average daily balance for August is $454...

Laura Drake wishes to estimate the value of an asset expected to provide cash inflows of $3,900 per year at the end of years 1 through 4 and $20,329 at the end of year 5. Her research indicates that...

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