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question 1: question 2: question 3 Clara is setting up a retirement fund, and she plans on depositing $5,700 per year in an investment that
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question 3
Clara is setting up a retirement fund, and she plans on depositing $5,700 per year in an investment that will pay 9% annual interest. How long will it take her to reach her retirement goal of $74,220? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice 077 years 13.02 years 4.5 years O 18 years Paul wants to invest a sum of money today that will accumulate to $70,000 at the end of 4 years. Assuming he can earn an interest rate of 10% compounded semiannually, how much must he invest today? (PV of $1. FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $47,376 $40,202 $22,576 $56,770 Molly borrows money by promising to make a single payment of $119,000 at the end of 4 years. How much money is Molly able to borrow if the interest rate is 12%, compounded semiannually? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $44,283 $89,303 $75,493 $86,347
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