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4. (4 points) Annual interest over the 25 years of your retirement is 5%. Now...

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4. (4 points) Annual interest over the 25 years of your retirement is 5%. Now how much do you need to be able to live off the following? a. $240,000 per year b. $120,000 every six months (semiannually) c. $ 60,000 every quarter d. $ 20,000 a month 5. (4 points) Find the following payments for an $80,000, 6-year, 7.5% fixed rate loan. a. Annually b. Semiannually c. Quarterly d. Monthly 6. (4 points) How much total interest was paid in the loan in problem 5 when payments were made: a. Annually b. Semiannually c. Quarterly d. Monthly

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