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10.(10 points) Is it more profitable to receive $2000 now or $3400 in 9 years? Assume that money can earn 6% interest compounded semiannually 11.
10.(10 points) Is it more profitable to receive $2000 now or $3400 in 9 years? Assume that money can earn 6% interest compounded semiannually 11. (10 points) On her eighth birthday, a girl inherits $15,000 that is to be used for her college education. The money is deposited into a trust fund that will pay her R dollars on her 17th, 18th, 19th, and 20th birthdays. Find R if the money earns 5% compounded annually. 12. (10 points) On December 31, 2005, a house was purchased with the buyer taking out a 30-year $90,000 mortgage at 3% interest compounded monthly. The mortgage payments are made at the end of each month. Calculate a. The unpaid balance of the loan on b. The interest that will be paid during December 31, 2015, just after the 120th payment January 2016
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