Match the terms to their correct meaning 1. APR fees required if loan is paid off before the end of its original term 2. Interest interest rate tied to an index that may change 3. Closing costs Loan To Value 4. Down payment annual percentage rate 5. Fixed rate initial cash payment 6. LTV fees associated with taking out a mortgage 7. Mortgage charge for borrowing money 8. Prepayment penalties interest rate that does not change 9. Variable rate a loan based on the value of the real estate it is used to purchase

Over the past several years, joyce chen has been able to save regularly. as a result, today she has $54,188 in savings and investments. she wants to establish her own business in 5 years and feels she will need $100,000 to do so. a. if she can earn 6% on her money, how much will her $54,188 in savings/investments be worth in 5 years? will joyce have the $100,000 she needs? if not, how much more money will she need? b. given your answer to part a, how much will joyce have to save each year over the next 5 years to accumulate the additional money? assume she can earn interest at a rate of 6%. c. if joyce can afford to save only $4,000 a year then, given your answer to part a, will she have the $100,000 she needs to start her own business in 5 years?