Solving 6 Qs of Finance class - Essay Example

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If four years of college is expected to cost Mary Richard’s daughter, Ellen, $150,000, 18 years from now, how much must Mary deposit now (today) into an account that will average a return of 8% annually in order to save the $150,000?
5. Prizes are often not “worth” as…

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Subject: Finance & Accounting
Type: Essay
Level: Undergraduate
Pages: 4 (1000 words)
Downloads: 2
Author: gibsonashleigh

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Assume an interest rate of 7% over the 20 years. 6. Mary is looking at buying a new car. How much must Mary deposit today in an account earning 6% annually to accumulate a 20% down payment to use in purchasing a car 1 year from now, assuming that the car’s current price is $20,000 and inflation will be

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