1) Some time ago, Jasmine bought 11 acres of land costing= $36,900. Today, that land is valued at= $214,800. About, how long has she owned this land if price of land has been increasing at 6% per year?
2) John established the trust fund which gives $75,000 in scholarships each year for worthy students. Trust fund earns the 5% rate of return. How much money did John contribute to fund suppose that only interest income is distributed?
Today, you signed loan papers agreeing to borrow $4,954.85 at 9% compounded monthly. Loan payment is $143.84 a month. How many loan payments should you make before loan is paid in full?
3) You evaluate that you will owe $45,300 in student loans by the time you graduate. Interest rate is 4.25%. If you wish to have this debt paid in full within 10 years, how much should you pay each month?