How much must he save each month to reach his desired goal

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Reference no: EM131831613

1. Sal is saving for a down payment on a car purchase. He needs $15500 in 24 months. If he can earn 5% annual return on the money he saves how much must he save each month to reach his desired goal? Please use financial calculator

2. Using a financial calculator: what is the annual debt service for a $150000 loan, amortized over 30 yrs at a 6% annual interest rate with monthly payments?

Reference no: EM131831613

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