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You hope to buy your dream car 5 years from now. Today, that car costs $88,000 but you expect the price to increase by an average of 5% per year over the next five years. How much will your dream car cost by the time you are ready to buy it?

Your grandmother invested a lump sum for you 20 years ago earning 6% interest per year over that time. Today, she gave you the proceeds of that investment which is now worth $48,107. How much did she originally invest?

You borrow $285,000 to buy a house. 30-year mortgage rates are 4.25% and payments are made monthly. How much will be your mortgage payment be?

How much total interest will you paying over the life of the mortgage?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92072133

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