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Jane plans to buy a house in 10 years. The house she dreams about costs...

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Accounting

Jane plans to buy a house in 10 years. The house she dreams about costs about $150,000 today. The cost of houses increases at 2.5% per year.

How much will the house cost in ten years?

Jane currently has $75,000 that she can invest to earn 3% interest over the next ten years.

How much will Jane accumulate from her investment of 75,000 Dollars in ten Years?

How much additional money would Jane need in ten years? In effect, how much money does Jane need to borrow to purchase her house?

Prepare an amortization table to pay off Janes mortgage, if she can borrow at an annual rate of 6.5% to pay off the mortgage quarterly in 5 years after buying the house.

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