Prof G buys a home and takes out a $200,000 4.6% 25 year mortgage. What are his monthly payments (end) and what will his principal balance be after 10 years?

Prof G has $400,000 saved now and wants to have $1,000,000 when he retires in 8 years. If he deposits $5,000 per month (begin) what rate of return must he get to accomplish his goal?

Prof G has $300,000 saved now and wants to have $1,000,000 when he retires in 8 years. If he deposits earns a 6% rate of return, how much must he invest (begin) of each month to accomplish his goal?

Answer rating: 100% (QA)

1Mortgage Payment Calculation Using a mortgage payment calculator we can find that Prof Gs monthly p... View the full answer