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solution

You plan to retire in 30 years. You are debating whether to deposit $67,887 into an account earning 11 percent annually today or waiting 6 years before making the deposit. How much more will be in the account when you retire in 30 years if you make the deposit today as opposed to waiting 6 years to make the first deposit?

Question 4

You currently have $6,942. You plan on investing it at 6 percent per year until you have $37,484. How long will you wait until you achieve this goal? Enter the answer with 2 decimals (e.g. 1.23).

Question 5

If John makes an investment of some principal amount, and removes the interest accrued at some regular basis (perhaps annually), what type of interest is he receiving?

Group of answer choices

Discounting

Simple

Compounding

Rolling

Question 6

If Marjorie makes an investment of principal, and leaves the full amount, both principal and interest in the account to some time in the future when she withdraws all funds, she is earning what type of interest?

Group of answer choices

Coumpounding

Discounting

Rolling

Simple

Solution:

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