Question: please answer in full detail explain all steps Today is your 25th birthday (Again). You're planning to work and save money for the next 5

please answer in full detail explain all steps
 please answer in full detail explain all steps Today is your

Today is your 25th birthday (Again). You're planning to work and save money for the next 5 years in order to start an MBA. The period of MBA will 2 years and you anticipate that you'll need 1800$ per month (beginning of month) during that period. You decide to save 400$ per month (beginning of month) today. You also have 4000$ saving that you invest today as a deposit in a bank. If the interest rate is 7% (effective-annual) for the next 5 years and 9% (compound semiannually) during your MBA, will you have enough money on your 30th birthday to go back to school? Problem V You just decided to purchase a chalet in the country for your vacation. The financial institution offers you a mortgage of 90000$ over 25 years at 10%. The rate is fixed for 5 years and will be re-negotiated at the end of 5th year. a) Calculate your monthly payments for the next 5 years. b) At the end of 5th year, the interest rate is 12%. Calculate your new monthly payments. c) At the end of 5th year, you decide to extend your mortgage by 10 years ( 30 years instead of the remaining 20 years). Calculate your monthly payments

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