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Question 6 (5 points) 9 years from now, you plan to buy a house for $300,000. The down payment is 10% of the house value
Question 6 (5 points) 9 years from now, you plan to buy a house for $300,000. The down payment is 10% of the house value ($30,000). If you can earn 3.75% interest, compounded annually, on your savings, how much do you need to deposit today to have $30,000 in 9 years? (Round your answer to the nearest hundredth; two decimal places. Also, if your answer is an even number, enter it with two decimal places; e.g., 34.00) Your Answer: Answer Question 7 (5 points) Currently, you have $54,000 that you would like to grow to $94,000 within the next 5 years. Assuming interest rate compounds annually, what annual rate of return do you have to earn? (Round your answer to the nearest hundredth; two decimal places. Also, if your answer is an even number, enter it with two decimal places; e.g., 34.00) Your
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