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answer all question with process Problem 2: (PMT) +300(1007)=628.49 You want to buy a new sports car from Muscle Motors for $43,900. The contract is
answer all question with process
Problem 2: (PMT) +300(1007)=628.49 You want to buy a new sports car from Muscle Motors for $43,900. The contract is in the form of a 72 month annuity at an APR of 7.15 percent. What will your monthly payment be? PV=43900 W=72 N=72HY=7.15112=0.6 HV=0PMT=752.01 Problem 3: (PVA) I want to set up a fund with enough money today so that (if something happened to me) my child will be able to draw $50,000 per year for 10 years, and an additional $500,000 at the end of the 10th year. How much do I need to put in this fund today to afford that? Assume r=5%. Problem 4: Suppose you begin saving for your retirement by depositing $2,000 per year in an IRA. If the interest rate is 7.5%, how much will you have in 40 yearsStep by Step Solution
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