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Please show work, thank you! 1. You want to have $21,000 at the end of 4 years to buy a new car. How much should
Please show work, thank you!
1. You want to have $21,000 at the end of 4 years to buy a new car. How much should you save each month to achieve your goal if you can earn 10\%? \$ 2. You want to buy a $20,000 car today and will be making monthly payments for the next 5 years. What is your car paymentif your borrowing rate 158% ? \$ 3. You invest $25,000 today in an account and will leave the money invested for 4 years. Your average investment rate is 10%, what amount will you have in the account at the end of the 4 years? 4. You plan to invest $3,000 every year for the next 5 years. What will be the value of your investment at the end of the 5 years if you can earn 8% annual interest? \$ 5. Your grandparents have decided to give you $15,000 in 4 years fo? graduate school. Assuming your grandparents are earning 10% annually, how much do they need to Invest today so that have the $15,000 to give you in 4 years? $Step by Step Solution
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