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Calculate the following time value of money problems. a. What is the future value of 18 periodic payments of $6,200 each made at the beginning

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Calculate the following time value of money problems. a. What is the future value of 18 periodic payments of $6,200 each made at the beginning of each period and compounded at 6% per period? b. What would you pay for a $500,000 face value bond that matures in 21 years and pays $37,500 a year in interest (end-of-period payments) if you wanted to earn a yield of 6%. c. Mike Finley wishes to become a millionaire. His money market fund has a balance of $555,264.50 and has a guaranteed interest rate of 4%. How many years must Mike leave that balance in the fund in order to get his desired $1,000,000? d. Andrew Bogut just received a signing bonus of $1,000,000. His plan is to invest this payment in a fund for 8 years (his planned retirement date). If Bogut plans to establish the AB Foundation once the fund grows to $1,850,930, what annually compounded interest rate must he earn to achieve his goal

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