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# 5 suppose you have a newborn child and want to begin

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Unformatted text preview: onding future value “F” at the end of year 7. This analysis assumes that no payments are realized in periods zero, one, two, sixe or seven. Assume a nominal interest rate of 9% compounded annually. 4. A loan of \$15,000 is incurred today and is to be paid off over the next 4 years. Calculate 1) the uniform annual mortgage payments “A” at the end of each of years 1 through that would pay off the loan for an interest rate of 9% compounded annually and 2) the uniform monthly mortgage payments at the end of each of months 1 through 48 that would pay off the loan for a nominal interest rate of 9% compounded annually. 5. Suppose you have a newborn child and want to begin covering the estimated cost of tuition and expenses for four years of college beginning 18 years from now. Your estimated cost is \$30,000 per year beginning at the end of...
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