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2 The Splish are planning for a retirement home. They estimate they will need $ 224,000 4 years from now to purchase this home. Assuming
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The Splish are planning for a retirement home. They estimate they will need $ 224,000 4 years from now to purchase this home. Assuming an interest rate of 10%, what amount must be deposited at the end of each of the 4 years to fund the home price? (Round factor values to 5 decimal places, e.g. 1.25124. Round answers to the nearest whole dollar, e.g. 5,275.) Click here to view factor tables Amount deposited each year $ ta Steve Smith will receive $91,200 on 5 years from now, from a trust fund established by his father. Assuming the appropriate interest rate for discounting is 12% (compounded semiannually), what is the present value of this amount today? (Round factor values to 5 decimal places, e.g. 1.25124. Round answers to the nearest whole dollar, e.g. 5,275.) Click here to view factor tables Present value $ taStep by Step Solution
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