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Using the appropriate interest table, provide the solution to each of the following four questions by computing the unknowns. What is the amount of the
Using the appropriate interest table, provide the solution to each of the following four questions by computing the unknowns.
What is the amount of the payments that Ned Winslow must make at the end of each of years to accumulate a fund of $ by the end of the eighth year, if the fund earns interest, compounded annually?
Robert Hitchcock is years old today and he wishes to accumulate $ by his sixtyfifth birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his fortieth through his sixtyfourth birthdays. What annual deposit must Robert make if the fund will earn interest compounded annually?
Diane Ross has $ to invest today at to pay a debt of $ How many years will it take her to accumulate enough to liquidate the debt?
Cindy Houston has a $ debt that she wishes to repay years from today; she has $ that she intends to invest for the years. What rate of interest will she need to earn annually in order to accumulate enough to pay the debt?
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