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How much will have to place into an account today

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Reference no: EM132753530

Problem 1: You deposit $1670 in an account one time that compounds monthly at 3.7 percent. How much will you have in your account at the end of 9 years? (Do not round intermediate calculations, round nswer to two decimals, i.e. 123.45)

Problem 2: A balloon payment of $27,000 on your house is due in 10 years. If you can earn an average of 8 percent per year for all the years, how much will you have to place into an account today to have the total amount when due? (Do not round intermediate calculations, round answer to two decimals, i.e. 123.45)

Reference no: EM132753530

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