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Please answer all questions. How many years will the following take? $358 to grow to $27,908 if invested at 8.36 percent, compounded annually. Round the
Please answer all questions.
How many years will the following take? $358 to grow to $27,908 if invested at 8.36 percent, compounded annually. Round the answer to two decimal places. Stephen plans to purchase a car 3 years from now. The car will cost $36,992 at that time. Assume that Stephen can earn 9.52 percent (compounded monthly) on his money. How much should he set aside today for the purchase? Round the answer to two decimal places. You have accumulated some money for your retirement. You are going to withdraw $59,230 every year at the end of the year for the next 17 years. How much money have you accumulated for your retirement? Your account pays you 4.04 percent per year, compounded annually. To answer this question, you have to find the present value of these cash flows. Round the answer to two decimal placesStep by Step Solution
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