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6. If you desire to have $80,000 for a down payment for a house in 7 years, what amount would you need to deposit each
6. If you desire to have $80,000 for a down payment for a house in 7 years, what amount would you need to deposit each year for these 7 years? Assume that your money will earn 10 percent per year. 7. Kate deposits $9,900 each year}nto her retirement account. If these funds have an average earning of 11 percent over the 40 years until her retirement, what will be the value of her retirement account? 8. A financial company will pay you $70,000 now in exchange for annual payments of $11000 that you are expected to receive over the next 9 years. If you estimate the time value of money at 7 percent each year, would you accept this offer? 9. If you borrow $59,500 today to buy a car, with a 3.6 percent per year interest rate to be repaid in 4 years, what would be the monthly payment
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