Debbie plans to buy a house for cash instead of paying a mortgage. She is willing to set aside $12,000 at the end of eac

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answerhappygod
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Debbie plans to buy a house for cash instead of paying a mortgage. She is willing to set aside $12,000 at the end of eac

Post by answerhappygod »

Debbie plans to buy a house for cash instead of paying a
mortgage. She is willing to set aside $12,000 at the end of each
year for 15 years. She invests the money in a high-risk mutual
fund, which has traditionally earned 9.2% annually. Money decreased
in value by 2.5% per annum. How much will Debbie have saved after
15 years?
You MUST use the TI BA II calculator features (N, I/Y, PV, PMT,
FV, AMORT) to solve questions
whenever possible.
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