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Suppose your grandmother se passed away and therefore berit Large sum of money. and muppose you deposit all the money inherited from another SIS 000,
Suppose your grandmother se passed away and therefore berit Large sum of money. and muppose you deposit all the money inherited from another SIS 000, in a new bank today How much the annual interest rate does the new bank needs to give you so that you can make a pur of 0.000 house in 2 years Assume the new bank pays monthly interests. (5 points) (3) Assume that you don't have any saving today. But you plan to save a fixed amount of your monthly income for your dream house in Pearland. How much do you need to save at the end of every month so that you can make a purchase of $200,000 house in 2 years? Assume the bank for part (3) pays 8% interest rate compounded monthly. (5 points)
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