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It is for a personal finance class. Thank you! Prof G wants to save for a new boat that will cost $80,000 in 5 years.
It is for a personal finance class. Thank you!
Prof G wants to save for a new boat that will cost $80,000 in 5 years. He can afford to put $1,250 into an investment at the beginning of each month. What rate of return must he attain to accomplish his goal? Prof G wants to save for a new boat that will cost $80,000. He can afford to put $1,250 into an investment at the beginning of each month that earns 9.2%. How long will it take to accomplish his goal? Prof G has won the lottery for $2,000,000. He may take the $2,000,000 now or take $125,000 at the beginning of the next 20 years. He feels he can safely earn 3.6% on his money. What should he do Step by Step Solution
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