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Using the appropriate interest table, provide the solution to each of the following four questions by computing the unknowns. Click here to view factor tables
Using the appropriate interest table, provide the solution to each of the following four questions by computing the unknowns. Click here to view factor tables What is the amount of the payments that Chris Winslow must make at the end of each of 8 years to accumulate a fund of $91,600 by the end of the 8th year, if the fund earns 8% 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.) Payment at the end of each year e Textbook and Media Alan Hitchcock is 37 years old today and he wishes to accumulate $531,000 by his 62 nd birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his 37 th through his 61 th birthdays. What annual deposit must Alan make if the fund will earn 8% 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 Candice Ross has $20,500 to invest today at 10% to pay a debt of $53,172. How many years will it take her to accumulate enough to liquidate the debt? (Round answer to 0 decimal places, e.g. 45.) years Carla Houston has a $28,700 debt that she wishes to repay 3 years from today; she has $21,563 that she intends to invest for the 3 years. What rate of interest will she need to earn annually in order to accumulate enough to pay the debt? (Round answer to O decimal places, e.g. 7%.) Rate of interest
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