You and your spouse are about to relocate to a new city and…

You and your spouse are about to relocate to a new city and need to find housing. Since the new job is only temporary and you do not plan on staying for longer than 1 year, which of the following would be the wisest decision regarding renting or buying for living arrangements?

Thomas is not too bright. He wants to have $5,000 saved up i…

Thomas is not too bright. He wants to have $5,000 saved up in 6 years so that he can surprise his parents with a luxurious vacation for their 50th wedding anniversary. If he invests $1,000 today as a lump sum in a bank account that compounds interest quarterly, what annual interest rate will he need in order to achieve his goal?