Question
1. Derek currently has $13,052.00 in an account that pays 4.00%. He will withdraw $5,469.00 every other year beginning next year until he has taken
1. Derek currently has $13,052.00 in an account that pays 4.00%. He will withdraw $5,469.00 every other year beginning next year until he has taken 7.00 withdrawals. He will deposit $13052.0 every other year beginning two years from today until he has made 7.0 deposits. Exactly 20 years from today, he will deposit $22,012.00. How much will be in the account 29.00 years from today?
2. Derek plans to buy a $34,239.00 car. The dealership offers zero percent financing for 52.00 months with the first payment due at signing (today). Derek would be willing to pay for the car in full today if the dealership offers him to pay him $____ six months from today. He can borrow money from his bank at an interest rate of 5.92%.
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