1) Maggie wants to withdraw $1,200 at the beginning of each month for the next 5 years....
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1) Maggie wants to withdraw $1,200 at the beginning of each month for the next 5 years. She expects to earn 10% compounded monthly on her investments. What lump sum should Maggie deposit today?
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2) Tim expects to receive $75,000 in 5 years. His opportunity cost is 10% compounded monthly. What is this sum worth to Tim today?
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3) Marge has been dollar cost averaging in a mutual fund by investing $2,000 at the beginning of every quarter for the past 7 years. She has been earning an average annual compound return of 11% compounded quarterly on this investment. How much is the fund worth today?
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Expert Answer:
Lets calculate the values for each of the scenarios 1 Maggies Lump Sum Deposit Maggie wants to withd... View the full answer
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