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Problem 2. (6 points) You have settled into your job as a chemical engineer working for SpaceX and have found a condominium you would like
Problem 2. (6 points) You have settled into your job as a chemical engineer working for SpaceX and have found a condominium you would like to purchase on South Padre Island. The total purchase price is $300,000. Current interest rates are 0.267 %, compounded monthly, for 30 years. (a) What is your monthly payment? (b) What is the future value of your monthly payments at the end of Year 30, assuming you could earn a rate of return of 0.833%, compounded monthly, by investing in mutual funds
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