A consumer invests \( \$ 35,000 \) in a mutual fund with a \( 1 \% \) front end load and a \( 2.1 \% \) annual expense fee, which is charged as a percentage of the consumer's balance at the end of the year. The fund increases in value by \( 18.4 \% \) over the first year. Complete parts (a) through (e) below. The charge up front is \( \$ 350 \). (Simplify your answer. Do not include the \( \$ \) symbol in your answer. Round to two decimal places as needed.) (b) After subtracting the front end load, the remainder of the money grows by 18.4\% over the first year. What is the ending balance before the expense fee? The ending balance before the expense fee is \( \$ 41016.60 \). (Simplify your answer. Do not include the \( \$ \) symbol in your answer. Round to two decimal places as needed.)

Employee benefits such as health insurance are important because: * a) They are usually free b) They reduce out-of-pocket costs for essential needs c) They have no impact on financial stability d) They are deducted from gross income

You have \( \$ 300,000 \) saved for retirement. Your account earns \( 10 \% \) interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 15 years?

Use the compound interest formula to find the future value \( A \) for the following values. \( \begin{array}{l}P=\$ 1,000 \\ \begin{array}{l}i=0.057 \\ n=25\end{array} \\ A=\$ \square \text { (Round to the nearest cent.) }\end{array} \)

You want to buy a \( \$ 245,000 \) home. You plan to pay \( 5 \% \) as a down payment, and take out a 30 year loan at \( 3.9 \% \) interest for the rest. a) How much is the loan amount going to be? b) What will your monthly payments be? c) How much total interest do you pay? d) Suppose you want to pay off the loan in 15 years rather than 30 . What will your monthly payment be? e) How much money in interest will you save if you finance for 15 years instead of 30 years? \( \$ \)

Which factor is most likely to increase a person's lifetime income? * a) Starting a job immediately after high school b) Attaining higher education or vocational training c) Working part-time while in school d) Choosing jobs with no benefits