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35. (Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $150,000 he earned providing Mr. Burns entertainment 5
35. (Related to Checkpoint 6.1) (Future value of an annuity) Imagine that Homer Simpson actually invested the $150,000 he earned providing Mr. Burns entertainment 5 years ago at 11 percent annual interest and that he starts investing an additional $2,300 a year today and at the beginning of each year for 5 years at the same 11 percent annual rate. How much money will Homer have 5 years from today? The amount of money Homer will have 5 years from now is $. (Round to the nearest cont.) (Related to Checkpoint 6.4 (Present value of a perpetuity) What is the present value of a $3.500 perpetuity discounted back to the present at 9 percent? GOED The present value of the perpetuity is $. (Round to the nearest cent.)
35.
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