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How do you solve this? Required information The following information applies to the question displayed below.) Mary Kate, Ashley, Dakota, and Elle each want to
How do you solve this?
Required information The following information applies to the question displayed below.) Mary Kate, Ashley, Dakota, and Elle each want to buy a new home. Each needs to save enough to make a 25% down payment. For example, to buy a $100,000 home, a person would need to save $25,000. At the end of each year for four years, the women make the following investments: Annuity Type of Expected Person Payment Annual Return Mary Kate $2,700 Savings 3,700 CDS 4,700 Bonds 4,700 Stocks Account Ashley Dakota Elle 3x 5 7 11 Required: 1. Calculate how much each woman is expected to accumulate in the investment account by the end of the fourth year (EV0-$1. PV of S1, FVA OLS1 and PVA OLS1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) four-year Accumulated Investment Person Mary Kate Ashley Dakota Elle Step by Step Solution
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