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Frank buys a house at age 49 for 500, 000 by making a 130,000 downpayment and securing a 30- year mortgage with 3. 74 10

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Frank buys a house at age 49 for 500, 000 by making a 130,000 downpayment and securing a 30- year mortgage with 3. 74 10 / year interest compounded monthly. He sells his house at age 65 for $640, one and odds his equity in his retirement account. Ff Frank wants to receive 3 9, doo every month during his retirement for 27 years, then how much does he need to deposit every month into his retirement account starting at age 26, that pays interest at the rate of 2- 1710 / year compounded monthly

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