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VIII ) Imagine that you are a professional financial planner. One of your clients asks the following questions. Use the time value of money techniques

VIII) Imagine that you are a professional financial planner. One of your clients asks the following questions. Use the time value of money techniques to develop appropriate responses to each question. (10 points)
A. "I borrowed $75,000 and am required to repay it in six equal (annual) endof-year installments of $3,344. What interest rate am I paying?"
B. "I need to save $100,000 over the next 15 years to fund my three-year old daughter's college education. If I make annual end-of-year deposits into an account that earns 7 percent annual interest, how large must this deposit be?"
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