Question: 1. The solution to this problem requires time value of money calculations. Reference to Tables 9-1 through 9-4 in the text is necessary to complete

The solution to this problem requires time value of money calculations. Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations. Josh and Sara want to buy a house in four years. If the house will cost $180,000, how much must they deposit at the end of every year for the next four years at 5% compounded annually in order to buy the house?

a.$41,763

b.$36,990

c.$32,040

d.$45,000

The solution to this problem requires time value of money calculations. Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations. The future value of $6,000 at 12% compounded quarterly for five years is

a.$9,600.

b.$10,572.

c.$6,954.

d.$10,836.

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