Amount of each payment
Problem:
If you borrow $9,000 with a 6 percent interest rate, to be repaid in five equal yearly payments, what would be the amount of each payment? Explain in detail.
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Pete Morton is planning to go to graduate school in a program of study that will take three years. Pete wants to have $10,000 available each year for various school and living expenses.
Carla Lopez deposits $3,000 a year into her retirement account. If these funds have an average earning of 5 percent over the 40 years until her retirement, what will be the value of her retirement account? Please explain in detail and show your wo
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Jenny Franklin estimates that as a result of completing her master's degree, she will earn $15,000 a year more for the next 25 years. What would be the total amount of these additional earnings?
What is the minimum salary Brad would need at his new job to maintain the same standard of living? Please explain in detail and show your work.
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