If you invest $28,100 today, how much will be the balance of your account after...
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| If you invest $28,100 today, how much will be the balance of your account after 25 years if the interest rate is 7.25% for the life of the investment? | ||||||||||||
| Use the Function formula to compute your answer. (5 marks) | ||||||||||||
| You need $60,000 ten years from today to make a deposit on your PhD degree. If a financial institution can give you 7.38% fixed annual rate on your investment, | ||||||||||||
| how much cash do you have to invest today? Use the Function formula to compute your answer. (5 marks). | ||||||||||||
| You are expected to retire in 35 years from today. If you make an annual deposit of $15,500 at the end of each year into an investment account that pays 10.75% annually, | ||||||||||||
| how much money will your retirement account have at the end of 35 years if the interest in compounded. | ||||||||||||
| Use the Function formula to compute your answer. (5 marks) | ||||||||||||
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