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= Question 12, P4-11 (simi... > HW Score: 27.27%, 15 of 55 points O Points: 0 of 3 Payments. Cooley Landscaping Company needs to borrow
= Question 12, P4-11 (simi... > HW Score: 27.27%, 15 of 55 points O Points: 0 of 3 Payments. Cooley Landscaping Company needs to borrow $29,000 for a new front-end dirt loader The bank is willine loan the funds at 8.5% interest with annual payments at the end of the year for the next 6 years. What is the annual payment on this loan for Cooley Landscaping? What is the annual payment on this loan for Cooley Landscaping? $ (Round to the nearest cent.) Question 13, P4-25 (simi... HW Score: 27.27%, 15 of 55 points O Points: 0 of 3 Save Number of payments. Your grandfather will sell you a piece of beachfront property for $60,000. He says the price is firm whenever you can pay him cash. You know your finances will only allow you to save $6,200 a year and you can make 8% on your investment. If you invest faithfully every year at the end of the year, how long will it take for you to accumulate the necessary $60,000 future cash for the beachfront property? How long will it take for you to accumulate the necessary $60,000 future cash for the beachfront property? years (Round to two decimal places.) ery. Your dreams of becoming rich have just come true. You have won the State of Tranquility's Lottery. The State s you two payment plans for the $5,000,000 advertised jackpot. You can take annual payments of $100,000 at the end e year for the next 50 years or $904,165 today. your investment rate over the next 50 years is 13%, which payoff will you choose? f your investment rate over the next 50 years is 10%, which payoff will you choose? At what investment rate will the annuity stream of $100,000 be the same as the lump-sum payment of $904,165? If your investment rate over the next 50 years is 13%, what is the present value of the $100,000 annual payments today? (Round to the nearest dollar.)
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