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Question 17 1 pts You would like to purchase a 10 year annuity for $650. The rate of return is 9.5%. From this annuity, what
Question 17 1 pts You would like to purchase a 10 year annuity for $650. The rate of return is 9.5%. From this annuity, what is the annual cash flow that will you receive? O $104.33 $ 90.42 O $114.31 O $129.27 $103.52 0 Question 16 Your car needs a new engine and it cost $4,000. You currently have $600 to invest at 7% compound annually, how long will you have to wait to buy the engine? 26.92 years O 28.04 years O 27.86 years 7.55 years 25.98 years 1 pts Question 15 You and your dog Theodore I have found a home to buy that is selling for $120,000: you will put down $20,000 and obtain a 30-year fixed-rate mortgage for the remainder. Assume that monthly payments begin in one month. What will each payment be if the interest rate you borrow at is 12%? O $725.01 O $1,757.76 O $1,028.61 $901.52 O $733.76 7
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