Question: please solve questions 2 and 3 Question 2 [1 Mark] How much money would have to be deposited in years 1 thru 5 (i.e. five
Question 2 [1 Mark] How much money would have to be deposited in years 1 thru 5 (i.e. five deposits) if one wanted to withdraw $7,000 per year in years 10 thru 20 ? Assume the interest rate is 15% per year. Question 3 [1 Mark] You spend $2,000 in years 0 thru 5,$2,200 in year 6,$2,400 in year 7 and the amounts are increasing by $200 per year until year 12 . The interest rate is 12% per year. (a) What is the total present worth in year 0 ? (b) What is the equivalent annual worth (years 1-12)
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