You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly.  Note: Payments are made at the end of each period. You decide to deposit $240 each month into the retirement fund, and retire when you can afford to buy your dream boat, which costs $338,000.  How many months will you need to make payments before you can retire? _________   months.  Round to the nearest month.

Lynn Ally, owner of a local Subway shop, loaned $43,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn at the end of 7 years with 8% interest compounded semiannually.   How much will Lynn receive at the end of 7 years? (Do not round intermediate calculations. Round your answer to the nearest cent.) Future value: $_________

ck To save money for his daughter's college tuition, Scott invests $1158 every year in an annuity that pays 6.4% interest, compounded annually. Payments will be made at the end of each year. Find the total value of the annuity in 19 years. Do not round any intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas. $0 Check A 1 option Z W S command 3 E D C X R F S 5 V T G 6 B MacBook Air H N U Save For Later © 2023 McGrew HLLC A Rights Reserved Terms of Use 8 M 1 K (33 O O L command P Submit Assignment Privacy Center Accessibility option ? 1 4

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