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A) Your best friend has big dreams. They want to have $904629 in 23 years so that they can buy a home on the beach.
A) Your best friend has big dreams. They want to have $904629 in 23 years so that they can buy a home on the beach. They tell you they plan to invest $591 every month. What interest rate must they earn to meet their goal?
B) In several years from now, you will be eligible to receive distributions from an inheritance. The first payment of $28,026 will be paid in 13 years. The second payment of $42,199 will be paid in 18 years. The final payment of $106,882 will be made in 24. The relevant return is 5.23%. What is this inheritance worth today?
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