Key Question #8 0.0 1. Natalie and Preston would like to accumulate $25 000 at the end of 3 years for a future down payment on a house in Prescott. How much should they deposit at the end of each year in a savings account that pays 7.2%/a, compounded weekly, to meet their goal? a. Calculate the equivalent yearly rate b. Determine the yearly deposit.

Key Question #8 0.0 1. Natalie and Preston would like to accumulate $25 000 at the end of 3 years for a future down payment on a house in Prescott. How much should they deposit at the end of each year in a savings account that pays 7.2%/a, compounded weekly, to meet their goal? a. Calculate the equivalent yearly rate b. Determine the yearly deposit.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Not sure where to start this one Suppose that you purchase a new home that costs $180,000. A local bank offers you a 3% fixed rate mortgage loan for 30 years. Also, you are required to make a 20% down payment immediately. a) Find your monthly payment. b) Find the interest amount and the principal amount in your first monthly payment. c) Find the total interest paid for 30 years.
You want to have $49,000 in your savings account 4 years from now, and you're prepared to make equal annual deposits into the account at the end of each year. If the account pays 6.7 percent interest, what amount must you deposit each year? Multiple Choice $3,282.96 $11,085.33 $14,206.71
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Please answer fast I give you upvote

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