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You have just won the lottery! You have netted $1,410,567 in cash. If you can access a bank account paying 4.5%, compounded monthly, can you
You have just won the lottery! You have netted $1,410,567 in cash. If you can access a bank account paying 4.5%, compounded monthly, can you afford the following spending plan? A. Purchase your friend's complete art collection of melting icebergs today, valued at $650,000 (though she's agreed to a 20% discount on the total value) B. Buy a Bentley outright after your Honda lease is up in 24 months. At this time, you expect the Bentley to cost you $345,000. C. Pay for your nephew's education, which will cost $15,000 a year for four years. He will start university in 2 years. D. In 5 years, buy your parents a house in Florida for $256,000. E. In 10 years, take a luxury trip around the world in a private jet for $500,000
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