1. What amount will you have in the bank in five years if you invested...
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Accounting
1. What amount will you have in the bank in five years if you invested $15,500 in the bank today with interest of 6% compounded annually? 2. What amount should you invest in the bank today so that in eight years you will have $32,000? Assume an interest rate of 4.25% and compounding on a monthly basis. 3. What amount will you have in your investment account in 15 years if you invest $6,000 every six months in the account? Assume an interest rate of 6.5%. 4. Assume you are taking out a five year loan to purchase a car for $31,000 and the interest rate is 6.5%. What will be your monthly payments for the next 5 years
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