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Question 6 1.5 pts A retirement unit now costs $432,841. Inflation is expected to cause this price to increase at 3% per year over 24
Question 6 1.5 pts A retirement unit now costs $432,841. Inflation is expected to cause this price to increase at 3% per year over 24 years. 24 is the number of years to retirement. How large an equal annual end of year deposit must be made each year into an account paying an annual interest rate of 9% in order for a retiree to have the cash to purchase a unit at retirement? Question 7 1 pts You have been offered an investment that pays you $7,015 in Year 1, $6,820 in Year 2 and $1,691 in Year 3. Your required rate of return is 13% per year. What is the maximum amount that you are willing to pay for this investment today
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