## 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

### Note: Homework Hints are given only for the Level 1 and Level 2 problems.

However, as you go through the book be sure you look at all the examples in the text. If you need hints for the Level 3 … See the whole entry

## Homework Hints 11-1

### Note: Homework Hints are given only for the Level 1 and Level 2 problems.

However, as you go through the book be sure you look at all the examples in the text. If you need hints for the Level 3 … 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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