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  3. 4. john is saving $1,500 at the end of each month

4. John is saving $1,500 at the end of each month for a car. If...

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Accounting

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4. John is saving $1,500 at the end of each month for a car. If this is done for a period of 25 years, how much will be available in 25-years? Assume an interest rate of 10.75% compounded monthly [5 Marks] 5. Juma wants to calculate the correct price to pay for an annuity now offering a retirement income of $1,00,00 a month for 10 years. Assume the interest rate is 10% compounded weekly. 6. Marwa wants to deposit $330,000 into a mutual fund at the beginning of each quarter. If she earns 7.5% interest compounded quarterly, how much amount will be there in the mutual fund at the end of 10-years? [5 Marks) 7. The monthly rent on an apartment in the Palm is $13,500 per month payable at the beginning of each month. If the current interest is 15.75% compounded monthly, what single payment 12 months in advance would be equal to a year's rent

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