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Please help me with these 3 questions with detailed steps and explanations. Q 1 ) You are saving for retirement. To live comfortably , you
Please help me with these questions with detailed steps and explanations.
Q You are saving for retirement. To livecomfortably you decide you will need to save $ by the time you are
Today is your st birthday and youdecide starting today and continuing on every birthday up to and including your th birthday that you will put the same amount into a savings account. If the interest rate is
how much must you set aside each year to make sure that you will have $ in the account on your th birthday
The amount to deposit each year is $ enter your response here
Round to the nearestcent
Q Your grandmother bought an annuity from Rock Solid Life Insurance Company for $ when she retired. In exchange for the $ Rock Solid will pay her $ per year until she dies. The interest rate is How long must she live after the day she retired to come out aheadthat is to get more in value than what she paidin
She must live at least enter your response here years. Round up to the nearestinteger
Q You are thinking of purchasing a house. The house costs $ You have $ in cash that you can use as a down payment on thehouse but you need to borrow the rest of the purchase price. The bank is offering a year mortgage that requires annual payments and has an interest rate of per year. What will your annual payment be if you sign up for thismortgage
The annual payment is $
enter your response here
Round to the nearestcent
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