Solve the problem. Joe is buying some kitchen equipment for his new apartment. The total cost is \( \$ 3000 \) and he places a down payment of \( \$ 300 \) There is add-on interest of \( 6 \% \). Find the total interest Joe will pay if it takes him 4 years to pay for his purchase?

Phil is shopping for an annuity that guarantees he CANNOT outlive the benefits. Which of these benefit options would he choose?Accelerated lifetime benefitGuaranteed lifetime withdrawal benefitRight of income riderGuaranteed minimum accumulation benefit

You deposit \( \$ 1000 \) each year into an account earning \( 7 \% \) interest compounded annually. How much will you have in the account in 35 years?

You deposit \( \$ 500 \) each month into an account earning \( 6 \% \) interest compounded monthly. a) How much will you have in the account in 20 years? b) How much total money will you put into the account? c) How much total interest will you earn? \( \$ \)

Suppose you want to have \( \$ 700,000 \) for retirement in 25 years. Your account earns \( 4 \% \) interest. a) How much would you need to deposit in the account each month? b) How much interest will you earn?

The original price of a tablet was \( \$ 550 \). During a sale, Melvin was given a 30\% discount for the tablet. How much did he pay for the tablet?