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CAN SOMEONE PLEASE ANSWER THESE STEP BY STEP! Problem 1: How much will you have in your savings account in 2 years if you invest
CAN SOMEONE PLEASE ANSWER THESE STEP BY STEP!
Problem 1: How much will you have in your savings account in 2 years if you invest $1000 today, do not add or withdraw money during the life of your investment, and earn 12% APR with monthly compounding? Problem 2: You want to be able to withdraw $60,000 per year for 30 years after you retire exactly 40 years from now (i.e., you want your first withdrawal be exactly 40 years from now). To achieve your retirement goals, you want to make 40 equal annual contributions to your savings account with the first contribution next year. How much should your annual contributions be if you are able to earn a 6% annual return? Problem 3: Find the PV of a "bi-annual perpetuity in which you receive $1000 each odd years starting at t=7 (i.e., at t=7, 9, 11, ..) if EAR is 7%Step by Step Solution
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