You buy a home when you are 25 years old, $200,000 principal, 2.75% for 15 years. When the home is paid off, you take the payment and invest it every month at 8% unt you turn 62. How much money will be in your investment account when you turn 62? $

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
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You buy a home when you are 25 years old, $200,000 principal, 2.75% for 15 years. When the home is paid off, you take the payment and invest it every month at 8% until
you turn 62. How much money will be in your investment account when you turn 62?
$
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81
44°F Mostly sunny
^
6:53 PM
4/11/2023
Transcribed Image Text:# You buy a home when you are 25 years old, $200,000 principal, 2.75% for 15 years. When the home is paid off, you take the payment and invest it every month at 8% until you turn 62. How much money will be in your investment account when you turn 62? $ Type here to search 81 44°F Mostly sunny ^ 6:53 PM 4/11/2023
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