Question: INSF COURSE answer all CORRECTLY for a like! Question 12 (0.2 points) Mary's 25th birthday is today, and she hopes to retire on her 65th

INSF COURSE answer all CORRECTLY for a like!

Question 12 (0.2 points) Mary's 25th birthday is today, and she hopes to retire on her 65th birthday. She has determined that she will need to have $2,000,000 in her retirement savings account in order to live comfortably. Mary currently has no retirement savings, and her investments will earn 5% annually. How much must she deposit into her account at the end of each of the next 40 years to meet her retirement savings goal? Your Answer: Answer Hide hint for Question 12 Use the ordinary annuity formula. Question 11 (0.2 points) Lauren knows she can afford to make monthly payments of $575 for 48 months. How much will the bank lend her today on a 3% APR car loan in exchange for her promised monthly payments? Your Answer: Answer Hide hint for Question 11 Calculate the PV of your montly payments

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