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following questions (1) How much you need to deposit today in an account th so that you can make a purchase o 500.000 in 2
following questions (1) How much you need to deposit today in an account th so that you can make a purchase o 500.000 in 2 years ( point 2) Suppose your grandmother just passed away and therefore you inherit a large sum of money, $150.000 and suppose you deposit all the money inherited from your grandmother, $150.000, in a new bankowy How much the annual interest rate does the new bank needs to give you so that you can make a purchase of $200.000 house in 2 years? Assume the new bank pays monthly interests. (5 points) (3) Assume that you don't have any saving today. But you plan to save a fixed amount of your monthly income for your dream house in Pearland. How much do you need to save at the end of every month so that you can make a purchase of $200,000 house in 2 years? Assume the bank for part (3) pays 8% interest rate compounded monthly. (5 points)
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