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21 12 Question 15 (1 point) Listen 15 18 You have a company that needs a new computer system that will cost $20,000. You
21 12 Question 15 (1 point) Listen 15 18 You have a company that needs a new computer system that will cost $20,000. You finance the computer system at 12 percent, compounded monthly for 2 years. The bank will automatically deduct the payment from your account at the end of each month. What is your monthly equipment payment? Enter your answer rounded to 2 decimal places, ex. 45,635,81, no dollar sign 21 21 Your Answer: Answer Question 16 (1 point) Listen Walter Mellon plans to retire when he is 65. He wants an annual income of $70,000 per year. He believes that he will live for 26 years after he retires and will draw the money at the end of each year (for 26 years). How much money will he need when he retires in order to support his $70,000 annual lifestyle if he will average 12 percent per year on his retirement account? Enter your answer rounded to 2 decimal places, ex. 45,635,81, no dollar sign
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