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Question 8 Not yet answered Marked out of 1 You would like to save up for a deposit of $30,000 to buy a home in exactly 9 years. You can invest your savings at an interest rate of 4.3% per year (compounded yearly) Calculate the amount that you must save at the end of each year for the next 9 years to have enough savings for this deposit. Your answer should be to the nearestdollar and you should not include dollar signs or commas. Flag question Answer:
Question 9 Not yet answered Marked out of 1 P Flag question You have just created a retirement savings account for your newborn baby with an initial investment of $1,000. You expect it to exhibit an average expected return of 12% per year (compounded yearly). How much would you expect to be in that account by the time that child retires at age 63 if no additional investments are made? Your answer should be to the nearest dollar and you should not include dollar signs or commas. Answer:
Question 10 Not yet answered Markod out of 1 You would like to have accumulated $1.8 million in investments when you retire in 25 years. You currently have $40,000 in investments. You expect your investments achieve 9% per annum between now and retirement (compounded yearly). How much extra will you need to save at the end of each year until retirement? You should assume that the first cash Flag questionflow is in one year and the last cash flow is in 25 years. You should ignore tax and inflation. Your answer should be to the nearest dollar and you should not include dollar signs or commas. Answer
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