112A company invests a total of $50,000 of surplus funds at two annual rates of interest: 4% and 7%. It wishes an annual yield of no less than 6-%. What is the least21amount of money that the company must invest at the 7% rate?

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Answered: 1 1 2 A company invests a total of…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

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A young family is looking to enter the property market. They plan to save for a 10% deposit and take out a loan (for the 90% balance). The deposit is for 10% of the property's value at the time the loan is taken out. The property is valued at $890,000 today, and is modelled to increase in value by 0.5% each month. The family can set aside $5,000 each month-end till the 10% deposit is made. The savings account pays interest at a rate of 0.5% each month. When the deposit is reached, a 30-year loan is taken out at an interest rate of 0.6% per month. a. Write the value, P(t) for the value of the property at the end of the tih month. b. Formulate a difference equation for the future value of the savings plan. c. Detail the finite difference solution for S(t), the future value of the savings plan. d. Solve for t, the time when the 10% deposit may be made and calculate the loan amount (to the nearest dollar). e. Detail the solution to calculate the monthly repayment amount (to the nearest…
Mr. Del Valle is 54 years old and plans to retire in 8 years. He wants to live at least 20 years after he retires. He has $125,000 in savings and expects to earn 7% annual interest. He expects to have an income of $45,000, the same income he currently receives from his job. Del Valle will begin receiving his benefit after 8 years on a bi-weekly basis (24 payments per year) after he retires. Annual inflation is expected to reach 5%. Determine how much Mr. Del Valle must save over the next 8 years to meet the retirement goal.

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1 1 2 A company invests a total of $50,000 of surplus funds at two annual rates of interest: 4% and 7-%. It wishes an annual yield of no less than 6-%. What is the leas 2 1 amount of money that the company must invest at the 7% rate?