### Plan to Invest, 401k, Deposits, Excel, Estimate, Retire, Marketing Budget, Math Quiz

The key terms in this Math course include Plan to Invest, 401k, Average, Return, Deposits, Excel, Estimate, Retire, Balance, Interest , Marketing Budget, CD, Music Store, One Quarter, PMT, FV, PV, MATHS OUTCOMES Quiz.

You plan to invest \$100 per month in a 401k, you are promised an average of 4% return over the next 40 years. Your employer will match 50% of your deposits.  What would you type into Excel to estimate how much money should be in the 401k after 40 years?

=PMT(.04/12, 40*12,-150)

=FV(.04/12, 40*12,-100)

=150 ( 1.04 ) 40 ⋅ 12

=PV(.04, 3*40*12,-150)

100 ( 1 + .04 12 ) 12 ⋅ 40

=FV(.04/12, 12*40, -150)

Oscar is preparing to retire.  His 401(k) currently has a balance of \$248,797.42.   If he’s been depositing \$81 each month for the last 30 years, how much has Oscar earned in interest so far?

219,637.42

A local grocer cut his marketing budget by 50% last year.  He spent only \$650 on marketing this year and is happy with his decision.  How much did the grocer spend on marketing last year?

1,300

A music store owner noted that CD sales had dropped 12% from one quarter to the next.  If the owner sold 460 units in the first quarter, how many did she sell in the next quarter?

405

You plan to invest \$100 per month in a 401k, you are promised an average of 4% return over the next 40 years. Your employer will match 50% of your deposits.  What would you type into Excel to estimate how much money should be in the 401k after 40 years?

=PMT(.04/12, 40*12,-150)

=FV(.04/12, 40*12,-100)

=150 ( 1.04 ) 40 ⋅ 12

=PV(.04, 3*40*12,-150)

100 ( 1 + .04 12 ) 12 ⋅ 40

=FV(.04/12, 12*40, -150)

Oscar is preparing to retire.  His 401(k) currently has a balance of \$248,797.42.   If he’s been depositing \$81 each month for the last 30 years, how much has Oscar earned in interest so far?

219,637.42

A local grocer cut his marketing budget by 50% last year.  He spent only \$650 on marketing this year and is happy with his decision.  How much did the grocer spend on marketing last year?

1,300

A music store owner noted that CD sales had dropped 12% from one quarter to the next.  If the owner sold 460 units in the first quarter, how many did she sell in the next quarter?