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Please answer all parts for upvote. At the end of each year you deposit $1,200 in a retirement account that pays 6%. How much money
Please answer all parts for upvote.
At the end of each year you deposit $1,200 in a retirement account that pays 6%. How much money will you accumulate for your retirement if you plan to retire 40 years from now? I. l- PMT- FV- Starting today Andrew will deposit $750 per year in a retirement account that pays 6%. How much money will he accumulate for his retirement if he plans to retire 40 years from now? 2. l- PMT- FV- You are looking into an investment that will pay you $5,000 per year for the next 8 years. If you require a 9% return, what is the most you would pay for this investment? 3. l- PMT- FV- 4. If today you pay $28,000 in exchange for an 8%, 15 year annuity, what will be the annual cash flow? l- PMT- FV- You will buy a house for $150,000. Your mortgage bank will lend you the money at 6% for 15 years. How much will you have to pay every month? 5. l- PMT- FV- 6. An insurance company is trying to sell you an investment policy that will pay you and your heirs $20,000 per year forever. If the required return on the investment is 796, how much will you pay for the policyStep by Step Solution
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