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7,398,000

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Q: How much would you have to invest today in the bank at an interest rate of 8 percent to have an annuity of 4800 per year for 7 years?

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The total interest would be 73606.07 dollars, approx.

You need to invest 42027.98

6084

6947.91 will be sufficient.

That's going to depend on all of the following: -- what interest rate you can find -- how often the interest on the investment is compounded -- how you take your 40,000 annually ... how much and how often during the year. You haven't included any of that information in the question, so no answer is possible.

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The total interest would be 73606.07 dollars, approx.

You need to invest 42027.98

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6947.91 will be sufficient.

Five years ago, the interest rates on mortgages was only at 0.5 percent. As of today, interest rate on mortgage soared to 2.5 percent. That is 500 percent increase for the past five years.

If you invest $1,000 today in a security paying 8 percent compounded quarterly, how much will the investment be worth seven years from today?