Please use formula Question 7 Homework. Unanswered Starting at the end of this year,...
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Please use formula
Question 7 Homework. Unanswered Starting at the end of this year, you plan to make annual deposits of $8,000 for the next 10 years followed by deposits of $9,000 for the following 10 years. The deposits earn interest of 7.0%. What will the account balance be by the end of 25 years? Round to the nearest cent. (Hint: There are two annuities. Convert them to single cash flows using the FV annuity formula, then move the values to the end of year 25.] Numeric Answer: Unanswered 2 attempts left Submit Question 8 Homework Unanswered You are interested in buying a house and renting it out. You expect to receive a monthly net income of $2000 from rent. You then expect to sell the house for $250,000 at the end of 70 months. If your discount rate on this investment is 5% (compounded monthly), how much is this property worth to you today? Assume that you receive rent at the beginning of each month and you receive the first rent the same day you purchase the property. Round to the nearest cent. (Hint: A monthly annuity combined with a single cash flow at the end, and you are looking for the total PV. Careful that the number of months is provided, not years; so nxm is given directly to you.] Numeric
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