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1 . Suppose that you have saved $ 1 5 0 0 and will save $ 5 0 every month for the next 1 0

1. Suppose that you have saved $1500 and will save $50 every month for the next 10 years at the interest rate of 5.2% p.a. compounded monthly.
At the end of the 10th year, you will have $ ____.
2. Five years ago, you purchased a condo with $300,000. You rented it to me and received $1250 every month from me.
Today, after you received the rent, you sold the condo for $600,000.
The IRR of this investment is ___% p.a. compounded annually. Note that it is not the monthly rate.

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