Show all formulas with the values filled in. 1.Hobby Hut will need to replace their display cases
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1.Hobby Hut will need to replace their display cases in 5 years. If they believe it will cost $150,000, how much do they need to deposit each month into a sinking fund at 2.875% compounded monthly to save up that much money?
2.The Carson's want to have $500,000 in their retirement fund in 30 years. How much do they need to deposit each quarter into an annuity at 3.675% compounded quarterly to have that much money when they retire?
Related Book For
Cambridge International AS & A Level Mathematics Pure Mathematics 2 & 3 Coursebook
ISBN: 9781108407199
1st Edition
Authors: Sue Pemberton, Julianne Hughes, Julian Gilbey
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