What valuation was placed on the partnership

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Question - Ms. Cents is buying a 25% interest in an accounting partnership by end-of-month payments of $537.66, including interest at 8% compounded semiannually, for 12 years.

a) What valuation was placed on the partnership at the beginning of the payments? (Round to the nearest $100,000)

b) What total amount of interest will she pay over the 12 years? (Round to the nearest dollar)

How much more will you have in your RRSP at age 65 if you begin annual $1000 contributions to your plan on your twenty-sixth birthday instead of on your twenty-seventh birthday? Assume that the RRSP earns 8% compounded annually, and that the last contribution is on your sixty-fifth birthday. Round your answer to the nearest dollar.

Gabriela's monthly payments of $567.89 will pay off her mortgage loan in 7 years and 5 months. The interest rate on her mortgage is 6.6% compounded monthly. What is the current balance on the loan?

Reference no: EM132926214

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