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need clear solution of every part asap 5. Kahmila currently has no savings. She plans to attend college in two years and by then would
need clear solution of every part asap
5. Kahmila currently has no savings. She plans to attend college in two years and by then would like to have $16 000 in savings. She can invest her money into an account that pays 4%/a, compounded monthly. Determine the payment amount she must make at the end of each month to achieve her goal. Do this question by hand (left) and using the TMV Solver (right). Show all steps and values. By hand: N = 1 = PV = PMT = FV = P/Y = C/Y = PMT = END BEGIN 6. Patty bought a $650 000 home where she paid 20% in cash as her down payment. She amortized the remaining as a mortgage over 25 years at 6.19% per year for a five-year fixed term. a) Determine her down payment and loan amount (i.e. the mortgage). b) Determine the monthly payment on her loan. N= PV = PMT = FV = P/Y = C/Y = PMT = END BEGIN c) Determine the total interest paid (Eint) after the five years. Show your calculator entry. d) i) Determine how much principal has been paid after the five years (E Prn). How much debt will still remain after the five years? d) What would Patty's payment be if she decided to pay her mortgage using an accelerated biweekly payment? (show your calculation by hand)Step by Step Solution
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