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Suppose you currently have $4,800 in your savings account, and your bank pays interest at a rate of 0.55% per month. If you make no
Suppose you currently have $4,800 in your savings account, and your bank pays interest at a rate of 0.55% per month. If you make no further deposits or withdrawals, how much will you have in the account in 6 years? In 6 years' time, you will have $ in the account. (Round to the nearest cent.) You are thinking of purchasing a house. The house costs $200,000. You have $29,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30 -year mortgage that requires annual payments and has an interest rate of 6% per year. What will be your annual payment if you sign this mortgage? The annual payment is $ (Round to the nearest dollar.)
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