## Individual Research Projects Section 11.5

### Project 11.8

Outline a program for your own retirement. In the process of writing this paper answer the following questions. You will need to state your assumptions about interest and inflation rates.

1. What monthly amount of money today would provide
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## Individual Research Projects Section 11.1

### Project 11.1

Conduct a survey of banks, savings and loan companies, and credit unions in your area. Prepare a report on the different types of savings accounts available and the interest rates they pay. Include methods of payment as well … See the whole entry

## Homework Hints 11-2

[tippy title=”Problems 1-6″]Problems 1-6
There are many problems throughout the text labeled IN YOUR OWN WORDS. Just relax; do not be afraid to give your opinion. For the most part, these questions do not have “right” or “wrong” answers. You … See the whole entry

## Homework Hints 11-1

[tippy title=”Problems 1-4″]Problems 1-4
There are many problems throughout the text labeled IN YOUR OWN WORDS. Just relax; do not be afraid to give your opinion. For the most part, these questions do not have “right” or “wrong” answers. You … See the whole entry

## 11.2 Outline

1. Terminology
1. types of installments
1. closed-end loan
2. open- end loan
2. ways of calculating interest
2. amortization
1. installment loan formulas
3. Annual percentage rate (APR)
1. APR formula
2. compare 0% financing with APR
4. . Open-end
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## 11.1 Outline

1. Amount of simple interest
1. interest/interest rate
2. principal/present value
3. time
4. simple interest formula
2. Future value
3. Interest for part of a year
1. exact interest
2. ordinary interest
3. time ordinary interest
4. future value formula (simple interest)
4. Compounding interest
1. compound interest
2. compounding annual
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