The amount that must be put aside now is $458,796.85.
<h3>How much should be put aside now?</h3>
The first step is to determine the future value of the annuity:
Future value = yearly payment x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate = 6%
- n = number of years = 20
$40,000 x [(1.06^20) - 1] / 0.06 = $1,471,423.65
Now, determine the present value of this amount: $1,471,423.65 / (1.06^20) =$458,796.85
To learn more about present value, please check: brainly.com/question/26537392
Answer:
Monthly paymenty for $ 997.954
Explanation:
We have to calcualte for the PTM of the mortgage for the first three years at which the rate is fixed:
PV $150,000
time 360 (30 years x 12 months)
rate 0.005833333 (7% annual / 12 months)
C $ 997.954
<span>Indecision is the type of conflict Wendy is suffering. </span><span>Consumer chooses a competing choice,
rather than the previously purchased choice, on the next purchase occasion. Categories
of switching costs include procedural, financial, and relational. based on the affect, or feeling, attached to
the products or behavior under consideration and trying to make perspective- assumes consumers often make
purchases and reach decisions is </span>Experiential decisions.
<span> </span>
I think intellectual curiosity is not a reason,