Question: QUESTION 3 a. What is the total future value six years from now of GHC50,000 received in one year, GHC200,000 received in two years, and

QUESTION 3

a. What is the total future value six years from now of GHC50,000 received in one year, GHC200,000 received in two years, and GHC800,000 received in six if the discount rate is 8%?

b. Your monthly mortgage payment on a house is GHC59.39. It is a 30 year mortgage at 7.8% compounded monthly. How much did you borrow?

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