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Steve Hitchcock is39years old today and he wishes to accumulate $454,000by his60 thbirthday so he can retire to his summer place on Lake Hopatcong. He
Steve Hitchcock is39years old today and he wishes to accumulate $454,000by his60 thbirthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his39 ththrough his59 thbirthdays. What annual deposit must Steve make if the fund will earn9% interest compounded annually? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.) Annual deposit e Textbook and Media Cindy Ross has $21,500to invest today at 11% to pay a debt of $61,048. How many years will it take her to accumulate enough to liquidate the debt? (Round answer to 0 decimal places, e.g. 45.) years Amy Houston has a $28,200debt that she wishes to repay5years from today; she has $16,735that she intends to invest for the5years. What rate of interest will she need to earn annually in order to accumulate enough to pay the debt? (Round answer to 0 decimal places, e.g. 7%.) Rate of interest % e Textbook and Media
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