Question
All questions are independent. If possible please give the explanation how you got the the answer. Thank you. 1)If you set yourself a goal of
All questions are independent. If possible please give the explanation how you got the the answer. Thank you.
1)If you set yourself a goal of investing X amount today, earning interest at 10%, in order to withdraw $32,321 at the end of each year for the next four years, how much is X?
2) A company is obligated to make annual payments to a pension fund at the end of the next three years. The present value of those payments is to be $100,000. Which of the following amounts is nearest the amount which must be paid annually if the fund is projected to earn interest at the rate of 8% per year?
3)Ruthy borrows $60,000 from the Mighty Bank today and the Bank requests her to repay her loan in four equal payments along with 12% interest. Each of the four payments must be paid at the end of the next three years. What is the amount of each payment?
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