Question: Question 5 1 pts You expect that you will need to replace your furnace in 4 years at a cost of $16,429. How much must

 Question 5 1 pts You expect that you will need to

Question 5 1 pts You expect that you will need to replace your furnace in 4 years at a cost of $16,429. How much must you save today in an account that pays 3.89% APR (compounded monthly) to exactly pay the $16,429 in 4 years? Question 6 1 pts You would like to purchase a vacation home when you retire 10 years from now. The current cost of the homes that interest you is $230,248; however, you expect their price to rise at 3.92% per year for the next 10 years. How much must you save each year in nominal terms (the same amount each year) for 11 years, starting next year, to just be able to pay for the vacation home if you earn 4.14% APR (compounded annually) on your investments

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