Amelia is applying for a mortgage loan, and she is required…

Amelia is applying for a mortgage loan, and she is required to submit a net worth statement as part of the application process. The following table shows her assets and liabilities. Use this information to calculate her current net worth. net worth statement Assets Amount Liabilities Amount 2009 Ford Taurus $12,345 Car loan $10,560 Checking account $743 Credit card balance $552 Savings account $1,322 Student loan $4,000 Two closets full of designer clothes and accessories. $475    

Emily is trying to decide between investing $1,000 or $1,500…

Emily is trying to decide between investing $1,000 or $1,500 at the beginning of each year for the next 40 years into a retirement account yielding 10.78%. After 40 years, how much extra money will Emily have in her IRA if she invests $1,500 annually instead of $1,000 annually?