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Please answer both questions #1 and #2. If the problem can be solved using a HP 10bII+ Financial Calculator, please include the steps used on
Please answer both questions #1 and #2. If the problem can be solved using a HP 10bII+ Financial Calculator, please include the steps used on the calculator if possible. Thank you!
1.)
2.)
Pearl Medavoy will invest $6,720 a year for 20 years in a fund that will earn 6% annual interest. Click here to view factor tables. If the first payment into the fund occurs today, what amount will be in the fund in 20 years? If the first payment occurs at year-end, what amount will be in the fund in 20 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) First payment today $ First payment at year-end $ Henry Madison needs $244,400 in 10 years. Click here to view factor tables. How much must he invest at the end of each year, at 5% interest, to meet his needs? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Investment amountStep by Step Solution
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