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1. You would like to have $44,073 for the down payment on a house you plan to buy five years after you graduate. If your investments earn 1.2% APR compounded monthly, how much do you have to invest each month, starting next month, to meet your investment goal?

2. How much would you pay today for an investment that provides you $100 each year for the next five years and $1,100 six years from now if the interest rate is 4.7%? Calculate your answer to the nearest penny.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91417323

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