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Clarissa wants to fund a growing perpetuity that will pay $6.000 per year to a local museum, starting next year. She wants the annual amount
Clarissa wants to fund a growing perpetuity that will pay $6.000 per year to a local museum, starting next year. She wants the annual amount paid to the museum to grow by 4% per year. Given that the interest rate is 6%, how much does she need to fund this growing perpetuity? 240.000 300,000 250,000 200,000 On the day Harry was born, his parents put $1,500 into an investment account that promises to pay a fixed interest rate of 4% per year. How much money will Harry have in this account when he turns 18? O $3.107.64 O $2,854.34 O $2,768.45 O $3.038.72 Your home mortgage loan has an initial balance of $400.000. The loan is to be paid off in exactly 30 years, with monthly payments of $2.500. What is the interest rate (as annual percentage rate. APR) on this loan? Hint: First, solve for the loan's monthly interest rate. Then multiply this monthly interest rate by 12 to find the APR. O 3.29% 4.39% 6.39% 8.76%
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