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You plan on retiring in 35 years from now. If the return you can earn on your retirement savings is 7% per year, how much
You plan on retiring in 35 years from now. If the return you can earn on your retirement savings is 7% per year, how much must you save at the end of each year until retirement (years 1 thru 35) in order to accumulate $2 million by the time of your retirement? $9.271.67 $17.947.72 $14,467.92 O $11,606.53 On the day Harry was born, his parents put $1.500 into an investment account that promises to pay a fixed interest rate of 4% per year. How much money will Harry have in this account when he turns 18? O $3.107.64 $2,854.34 $2.768.45 $3.038.72 Your home mortgage loan has an initial balance of $400,000. The loan is to be paid off in exactly 30 years, with monthly payments of $2,500. What is the interest rate (as annual percentage rate. APR) on this loan? Hint: First, solve for the loan's monthly interest rate. Then multiply this monthly interest rate by 12 to find the APR 0 3.29% 4.39% 6.39% O 8.76%
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