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17. If money can earn 6% compounded monthly, how much more money is required to fund an ordinary annuity paying $200 per month for 30
17. If money can earn 6% compounded monthly, how much more money is required to fund an ordinary annuity paying $200 per month for 30 years than to fund the same monthly payment for 20 years? 18. Isaac wishes to purchase a 25-year annuity providing monthly payments of $1000 for the first 15 years and $1500 for the remaining 10 years. An insurance company has quoted him a rate of return of 4.8% compounded monthly for such an annuity. How much will he pay for the annuity? 19. Harold and Patricia Abernathy made a loan to their son, Jason, to help him purchase his first car. To repay the loan, Jason made payments of $2000 at the end of each year for five years. If the interest rate on the loan was 5% compounded annually, what was the amount of the original loan
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