Question
PLEASE TYPE OUT STEP BY STEP USING THE FINANCIAL CALCULATOR PLEASE NO HANDWRITTEN NOTES 1. Suppose you plan to retire in 40 years. If you
PLEASE TYPE OUT STEP BY STEP USING THE FINANCIAL CALCULATOR PLEASE NO HANDWRITTEN NOTES
1. Suppose you plan to retire in 40 years. If you make 10 annual investments of $1,000 into your retirement account for the first 10 years, and then no more contributions to the account for the remaining 30 years. If the retirement account earns a fixed 10% annual interest, how much will you have at your retirement? Round it to two decimal places without the $ sign, e.g., 1234567.89.
2.You are buying a new home, and you have negotiated a 15-year mortgage loan with a local bank for an amount $359,000 at 4.12 percent APR with monthly compounding. What would your monthly payment be? Round it to two decimal place (cents), e.g., 234.56.
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