Robert Jones and his wife Suzie recently opened an investment account with the intention of saving enough to purchase the house of their dreams, a beautiful, little white house on the corner of Michigan Avenue and Maple Street. Their goal is to have $45,000 down in five years. Their account will guarantee them a return of 8% compounded annually. How much do they need to put into the account right now to reach their objective? $46,778.96 $39,546.09 $51,214.75 $30,626.24

Robert Jones and his wife Suzie recently opened an investment account with the intention of saving enough to purchase the house of their dreams, a beautiful, little white house on the corner of Michigan Avenue and Maple Street. Their goal is to have $45,000 down in five years. Their account will guarantee them a return of 8% compounded annually. How much do they need to put into the account right now to reach their objective? $46,778.96 $39,546.09 $51,214.75 $30,626.24

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 52P

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