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1. You plan to save $7,000 per year for the next 8 years. After the last deposit, you will keep the money in the account
1. You plan to save $7,000 per year for the next 8 years. After the last deposit, you will keep the money in the account for 3 more years. The account will earn an interest rate of 7.3 percent. How much will there be in the account 11 years from today?
2. Gerritt wants to buy a car that costs $29,000. The interest rate on his loan is 5.51 percent compounded monthly and the loan is for 5 years. What are his monthly payments?
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