ts D D Question 6 Suppose your personal financial goal is to retire with $1,165,522 in...
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ts D D Question 6 Suppose your personal financial goal is to retire with $1,165,522 in your savings account. How much must you deposit monthly in an account paying 7.73% a year (with interest being compounded monthly and your deposits occurring at the end of the month), to accumulate that amount by your 65th birthday if you begin your deposits on your 22nd birthday? (Note: Assume that you started with no savings in the account prior to your first deposit at age 22 and you do not make a deposit on your 65th birthday) 1 pts Answer should be formatted as a dollar amount rounded to the nearest cent. Question 7 Answer should be formatted as a percent with two decimal places. 1 pts An investor originally paid $34.156 for a vacant lot 11 years ago. If the investor is able to sell the lot today for $68,383, what would his annual rate of return be on this investment? ts D D Question 6 Suppose your personal financial goal is to retire with $1,165,522 in your savings account. How much must you deposit monthly in an account paying 7.73% a year (with interest being compounded monthly and your deposits occurring at the end of the month), to accumulate that amount by your 65th birthday if you begin your deposits on your 22nd birthday? (Note: Assume that you started with no savings in the account prior to your first deposit at age 22 and you do not make a deposit on your 65th birthday) 1 pts Answer should be formatted as a dollar amount rounded to the nearest cent. Question 7 Answer should be formatted as a percent with two decimal places. 1 pts An investor originally paid $34.156 for a vacant lot 11 years ago. If the investor is able to sell the lot today for $68,383, what would his annual rate of return be on this investment?
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Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
Posted Date:
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