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You want to buy a new sports car 3 year from now, and you plan to save $6, 200 year beginning one year from today.
You want to buy a new sports car 3 year from now, and you plan to save $6, 200 year beginning one year from today. You will deposit your savings in an account that pays 5.2%. How much will you have just after you make the 3rd deposit, 3 years from now? a. $22, 521.56 b. $19, 779.80 c. $24, 284.12 d $17, 233.89 e, $19, 583.96 You want to quit your job and go back to school for a law degree 4 years from now, and you plan to save $8, 800 per year, beginning immediately. You will make 4 deposits in an account that pays 5, 7% interest. Under these assumptions, how much will you have 4 years from today? a $34, 838.73 b, $35, 243.83 c. $48, 207.08 d. $32, 408.12 e $40, 510.15 Your uncle has $1, 015,000 and wants retire. He expects to live for another 25 years, and he also expects to earn 7.5% on his invested funds. How much could he withdraw at the beginning of to next 25 years and end up with zero in the account? a $98, 256.13 b $82, 162.46 c. $77, 080.24 d $84, 703.56 e. $105, 032.42
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