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2-14. In planning for your retirement, you've concluded that you need $30,000/year to live off of. You've established an investment portfolio that you're certain will
2-14. In planning for your retirement, you've concluded that you need $30,000/year to live off of. You've established an investment portfolio that you're certain will return 5% long term. Determine the amount of money you need to retire. 2-15. Consider a home you purchase for $600,000, amortized over 25 years at a rate of 4.5%. Determine your monthly payments, and the total interest paid on the loan, if your down payment is (a) 10% (b) 15% (c) 20% 2-16. Consider a home you purchase for $600,000, at a down payment of 15% and at a rate of 4.5%. Determine your monthly payments, and the total interest paid on the loan, if your amortization period is
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