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1. Today is your 25th birthday. You will begin making equal deposits on each birthday until your 65th birthday into an account that earns 6%.
1. Today is your 25th birthday. You will begin making equal deposits on each birthday until your 65th birthday into an account that earns 6%. The first deposit will be made today. You want to withdraw $75,000 per year beginning on your 66th birthday and ending on your 85th birthday. The deposits must be $_________.
2.Derek borrows $300,000 to buy a house. He has a 30-year mortgage with a rate of 6.00% APR. The monthlymortgage payment is $_____________. Right after making the 50th payment, now Derek owes $____________ on the house.
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