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6. You borrow $1,000,000 to purchase a warehouse. The annual interest rate on this 15-year note is 4.2%. What is the monthly payment? 7. What
6. You borrow $1,000,000 to purchase a warehouse. The annual interest rate on this 15-year note is 4.2%. What is the monthly payment? 7. What amount of money must be invested today to be able to withdraw $5,000 per month at the beginning of each of the next 10 years if the annual rate of return is 9%? 8. You just received $250,000. How much can you withdraw at the beginning of each quarter for the next 12 years if the annual rate of return is 9.3%
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