1) Tuya Miya puts 10,000 euros in a savings account that pays 5% annually. She wants to buy a 20,000 euro car with her savings. With this investment plan, how many years will it take her to reach her goal?

2) To save for her newborn son's college education, Kelli Peterson will invest $1,500 at the end of each year for the next 18 years. The interest rate she expects to earn on her investment is 9%. How much money will she have saved by the time her son turns 18?

3) To save for the purchase of a boat, Nelson plans to save 200 per month into a savings account that pays 5% annually. How much will he have available for the boat after 10 years?

4) Siim Bemoll is told by his bank that his 20,000€ car loan at 5% will have installments of 377.42€ per month. What will be the balance due after the first monthly instalment is paid?

5) How much interest will Siim Bemoll pay on his second installment of his 20,000€ car loan at 5% with installments of 377.42€ per month?

6) You finance your purchase of your home with a loan for 120,000 euros in 20 years at 3% with monthly payments. You plan to buy a new car five years from now so it would be good to know how much will you owe to the bank for the house at that time. What will be the outstanding loan at that time?

7) Jeff is 60 now and has one million euros in the bank. According to demographic estimates in his country, his life expectancy is 82 years but he is healthy so he is sure to live another ten more years after that. He decides to retire now and live off his savings, for which he can get 5% annual returns. What level of annual income can he expect to receive in order to support himself until he dies?

8) You want to retire 30 years from now with 5 million euros in your pocket. Your Personal Finance professor recommends to you an infallible financial product that will accumulate profits of 15% each year. How much per year do you have to invest in this product to reach your goal?

9) Jack is 35 years old and is planning to retire at age 65. Based on a variety of factors, he is planning a retirement of 20 years. Jack determines that he will need $20,000 during his 20 years of retirement. If he can invest at 9 percent, how much will he need to save each year beginning today to reach his goal?

10) A retirement plan promises to pay an annual salary of 50,000€, indexed to inflation up to 2%, and to invest the remaining funds at 6% annually, during 20 years. To provide for the initial funds how much would you have to save? Deliverable: Word file with explanation of your work, calculations, final result. You may choose whether to use tables or formulas with the calculator (as appropriate), but it is advisable to do both so that you get some practice and mutually check the correct results. You can even double check your results by using Excel on the side.