Use the compound interest formula to compute the balance in the following accounts after the stated period of time, assuming interest is compounded annually.

$\$ 3000$ is invested at an $\mathrm{APR}$ of $1.8 \%$ for $12$ years.

Use the compound interest formula to compute the balance in the following accounts after the stated period of time, assuming interest is compounded annually.

$\$ 15,000$ is invested at an $\mathrm{APR}$ of $3.2 \%$ for $25$ years.

Use the compound interest formula to compute the balance in the following accounts after the stated period of time, assuming interest is compounded annually.

$\$ 40,000$ is invested at an $\mathrm{APR}$ of $2.8 \%$ for $30$ years.

Use the compound interest formula to compute the balance in the following accounts after the stated period of time, assuming interest is compounded annually.

$\$ 10,000$ is invested at an $\mathrm{APR}$ of $2.5 \%$ for $20$ years.

Determine whether the following spending patterns are equal to, above, or below the national averages given in the discussed figure. Assume that salaries and wages are after taxes.

A couple under the age of $30$ has a combined household income of $\$ 3500$ per month and spends $\$ 400$ per month on entertainment.

Summarize how average spending patterns change with age. How can comparing your own spending to average spending patterns help you evaluate your budget?

If it takes a certain amount of money $3.7$ years to double, at what annual interest rate was the money invested?

Determine whether the following spending patterns are equal to, above, or below the national averages given in the discussed figure. Assume that salaries and wages are after taxes.

A $32$-year-old couple with a combined household income of $\$ 45,500$ per year spends $\$ 700$ per month on transportation.

Determine whether the following spending patterns are equal to, above, or below the national averages given in the discussed figure. Assume that salaries and wages are after taxes.

A family with a $45$-year-old wage earner has an annual household income of $\$ 48,000$ and spends $\$ 1500$ per month on housing.

Use the appropriate compound interest formula to compute the balance in the following accounts after the stated period of time.

$\$ 30,000$ is invested for $15$ years with an $\mathrm{APR}$ of $4.5 \%$ and daily compounding.

A bank account with compound interest exhibits what we call a. linear growth. b. simple growth. c. exponential growth.

Consider the following loans.

a. Calculate the monthly payment.

b. Determine the total amount paid over the term of the loan.

c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest?

A student loan of $\$ 50,000$ at a fixed $\mathrm{APR}$ of $6 \%$ for $20$ years

Determine whether the following spending patterns are equal to, above, or below the national averages given in the discussed figure. Assume that salaries and wages are after taxes.

A single $42$-year-old man with a monthly salary of $\$ 3600$ spends $\$ 200$ per month on health care.

Determine whether the following spending patterns are equal to, above, or below the national averages given in the discussed figure. Assume that salaries and wages are after taxes.

A retired couple (over $65$ years old) with a fixed monthly income of $\$ 4200$ spends $\$ 600$ per month on health care.