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Current Attempt in Progress Jennifer wants to buy a mountain cabin for her retirement. Jennifer recently came into an inheritance of $490,000. She estimates that
Current Attempt in Progress Jennifer wants to buy a mountain cabin for her retirement. Jennifer recently came into an inheritance of $490,000. She estimates that the cabin she wants will cost $520,000 when she retires in 5 years. Click here to view the factor table. How much of her inheritance must she invest at an annual rate of 6% (compounded annually) to buy her cabin? (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answer to 0 decimal places, e.g. 458,581.) Investment amount $ Current Attempt in Progress Shamrock, Inc. issues $5,650,000 of 5% bonds due in 6 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 7%. Click here to view the factor table. What amount will Shamrock receive when it issues the bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answer to O decimal places, e.g. 458,581.) Amount received by Shamrock when bonds were issued $
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