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OtherTVMProblems:2) You just purchased a house for $160,000, in 5yearsit'smarketvaluewillbe$175,000.Whatwillbetherateofreturnonyourhouse?(whatreturn(annual)willyouearnonyourinvestment?).3)Youcansave$1,500peryear-youwanttosaveatotalof$20,000.Youcanearn8%onyoursavings-howlongwillyouneedtosave?4)Youarepurchasingahome.Thecostofthehome(andtheamountofyourloan)is$250,000Theannualrateonyourmortgageis6%(compoundedmonthly)andtheloanisfor30years.Whatwillbeyourmonthlyhousepayment?
OtherTVMProblems:2) You just purchased a house for $160,000, in 5yearsit'smarketvaluewillbe$175,000.Whatwillbetherateofreturnonyourhouse?(whatreturn(annual)willyouearnonyourinvestment?).3)Youcansave$1,500peryear-youwanttosaveatotalof$20,000.Youcanearn8%onyoursavings-howlongwillyouneedtosave?4)Youarepurchasingahome.Thecostofthehome(andtheamountofyourloan)is$250,000Theannualrateonyourmortgageis6%(compoundedmonthly)andtheloanisfor30years.Whatwillbeyourmonthlyhousepayment?
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