Personal Finance – Common Scenarios: Get Stronger Answer Key

Credit Cards

  1. [latex]$6.25[/latex]
  2. [latex]$180[/latex]
  3. [latex]$10[/latex]
  4. [latex]$100[/latex]
  5. [latex]20\%[/latex]
  6. [latex]$1,070.49[/latex]
  7. [latex]$859.35[/latex]
  8. [latex]$250[/latex]
  9. Initial: [latex]$843.21[/latex], After Adjustment: [latex]$1,073.14[/latex]
  10. [latex]$335,979.78[/latex]
  11. [latex]$407.40[/latex]
  12. [latex]$20,000[/latex]
  13. [latex]$1,600[/latex]
  14. [latex]3[/latex] years: [latex]$590.30[/latex], [latex]6[/latex] years: [latex]$313.36[/latex]
  15. [latex]$10,000[/latex]
  16. [latex]$2,450[/latex]
  17. [latex]$1,620[/latex]
  18. Age [latex]25[/latex]: [latex]$303,219.43[/latex], Age [latex]35[/latex]: [latex]$167,386.23[/latex]
  19. [latex]$502,257.42[/latex]
  20. [latex]$204,272.84[/latex]
  21. Age [latex]67[/latex]: [latex]$388,800[/latex], Age [latex]70[/latex]: [latex]$324,000[/latex]
  22. [latex]$36,000[/latex]
  23. [latex]$8,954.24[/latex]
  24. Bonds: [latex]$11,593.85[/latex], Stocks: [latex]$14,693.28[/latex]
  25. [latex]$18,114.98[/latex]
  26. IRA: [latex]$113,928.81[/latex], 401(k): [latex]$170,893.21[/latex]
  27. Traditional IRA: [latex]$75,000[/latex], Roth IRA: [latex]$100,000[/latex]