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please answer all the questions :) 1 You can afford to pay $2,000 a month ($24,000 annually) for a 30 year mortgage. At 3%, how
please answer all the questions :)
1 You can afford to pay $2,000 a month ($24,000 annually) for a 30 year mortgage. At 3%, how much mortgage can you afford? PV of Annuity D4 2 How much will you have in 30 years if you invest a lump sum of $50,000 today and earn 6% a year ? Note: FV of a $ 1 Appx A1 3 How much money will you have in 20 years if you save $6,000 a year and earn 6% every year. Note: FV of an Annuity C3 4 You want a retire on $50,000 a year when you are 65 (30 years from now). However because of inflation (2% pa), what is 50,000 30 years from now worth today? " Appendix B2 PV of $ 5 You borrow $50,000 @ 6%. The bank requires a compensating balance of $4,000 be maintained in the account. What is your effective borrowing cost (yield) Formula: interest paid on entire loan divided by used (Loan less comp balance)Step by Step Solution
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