Question: please disregard the first picture that was in error....just answer #6 Chall For Problems 28-31, assume that you win $1,000,000 in a lottery. After taxes

please disregard the first picture that was in error....just answer #6

Chall For Problems 28-31, assume that you win $1,000,000 in a lottery. After taxes you are left with $650,000. You deposit the 28. If you want to live off the interest without withdrawing any of the principal, what amount can you withdraw at the end of S450,000 in a savings plan that earns 6% compounded monthly. each month? 29. If you withdraw less than the amount found in Problem 27, what will happen to the savings plan balance? For Problems 16-19, assume you need a $150,000 mortgage loan but are unsure whether to get a 725% 15-year loan or a 75% 30-year lo 6. Calculate the monthly payment for each loan. 7. How much more per month will you pay with the 15-year loan? 8. Find the total amount of interest for each loan

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