Pinnacle Homes, a real estate development company, is planning to build five homes, each costing $155,000, in 4.5 years. The Galaxy Bank pays 6% interest compounded semiannually. How much should the company invest now to have sufficient funds to build the homes in the future? Round your answer to the nearest cent.
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Pinnacle Homes, a real estate development company, is planning to build five homes, each costing $155,000, in 4.5 years. The Galaxy Bank pays 6% interest compounded semiannually. How much should the company invest now to have sufficient funds to build the homes in the future? Round your answer to the nearest cent.
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- A real estate development company is planning to build five homes, each costing $155,000, in 2 1/2years. The Galaxy Bank pays 6% interest compounded semiannually. How much (in $) should the company invest now to have sufficient funds to build the homes in the future?A real estate development company is planning to build five homes, each costing $155,000, in 212 years. The Galaxy Bank pays 6% interest compounded semiannually. How much (in $) should the company invest now to have sufficient funds to build the homes in the future?You decide to purchase your own property. The estimated purchase price is $1,600,000. You obtain 90% financing from the bank, 7% fixed rate for 25 years. How much do they have to pay the bank every year? How much do you still owe the bank in 14 years?
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