c.If you borrowed that $20,000 to be paid back over13 years at 9%, what are your annual payments? d.How much must you save per year for 13 years at 9% to accumulate $20,000?
c.If you borrowed that $20,000 to be paid back over13 years at 9%, what are your annual payments? d.How much must you save per year for 13 years at 9% to accumulate $20,000?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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10.You now have $20,000 which can be invested at 9% per year.
c.If you borrowed that $20,000 to be paid back over13 years at 9%, what are your annual payments?
d.How much must you save per year for 13 years at 9% to accumulate $20,000?
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