29. Adrian buys a used car for $4000. The car depreciates at a rate of 14% per year. How long will it take for the car to be worth a quarter of its original value?

Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest, compounded monthly. If she opened her account when she was 19 years old, how much will she have by the time she is 55? How much of that amount will be interest earned?

Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest, compounded monthly. How much money will he have saved after 5 years?

What is the total effect on the economy of a government tax rebate of $1,000 to each household in order to stimulate the economy if each household will spend 90% of the rebate in goods and services?

Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed to invest in an account now with 7.5 APR,compounded daily, in order to reach her goal in 3 years?

New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will pay interest per year which is compounded monthly. How much will be in the child's account at his twenty-first birthday?