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To your good fortune, your crazy uncle Bill died and left you $250,000. He requires that you take care of his dogs and provide for
To your good fortune, your crazy uncle Bill died and left you $250,000. He requires that you take care of his dogs and provide for their well being; there are three and they have needs. You estimate the dog babysitting and Vet bill to be $1,500 a month for 7 yrs. The dog boarder service offers a discount rate of 6.0% APR for early payment (use to discount). Assume you prepaid for Dog care today and invested the rest of the money at 8.50% APR compounded annually (m=1) for 20 years. What is your account balance at the end of year 20?
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