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How much must be invested today in order to generate a six-year annual annuity of $1,250 per year, with the first payment one year from
How much must be invested today in order to generate a six-year annual annuity of $1,250 per year, with the first payment one year from today, at an interest rate of 6%? a. $6.146.66 b. $3,140.14 c. $7,863.21 d. $2,242.96 A bank offers to loan you $25,500 for five years to buy a car. The loan shall be paid back in 60 monthly payments. The interest rate offered on the loan is 4.25% compounded monthly. What monthly payment should you expect on the loan? a. $366.40 b. $3,405.08 c. $319.13 d. $472.50
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