Chad is interested in obtaining a loan for a new house. He needs a loan for

$225,000 today. The term of the loan is 15 years and has a discount rate of 10%.

Calculate the periodic loan annuity payment.

$26,286.45

$29,581.60

$31,289.68

$27,913.25

Question 8

4 Points

You plan on retiring in 30 years

At that time you would like to be able to withdraw $25,000 per year for 10 years.

You expect the prevailing rate over the this 10 year time period to be 12.50%.

How much do you need in 30 years to be able to withdraw $25,000 each year?

$153,614.17

$147,230.00

$138,410.77

$130,217.75