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Your daughter is currently 6 years old. You anticipate that she will be going to college in 12 years. You would like to have
Your daughter is currently 6 years old. You anticipate that she will be going to college in 12 years. You would like to have $144,000 in a savings account to fund her education at that time. If the account promises to pay a feed interest rate of 7% per year, how much money do you need to put into the account today to ensure that you will have $144,000 in 12 years? Your deposit today should be S Check (Round to the nearest dollar) You are thinking of rebring. Your retirement plan will pay you either $250,000 immediately on retirement or $350,000 five years after the date of your retirement (a) if the interest rate is 0% per year, which alternative should you choose? OTake the money now CWaging until 5 years after retirement (b) the interest rate in % per year, which atemative should you choose? OTake the money now CWaiting unti 6 years after retirement (if the interest ate is 20% per year, which alternative should you choose? Otake the money now Wating until 5 years after rement Check
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