To join Bellerive Country Club in St. Louis, MO, my neice Chrysteene J Smith must first purchase a membership bond for $300,000. In addition, monthly membership dues are $3500. Suppose Chrysteene...

To join Bellerive Country Club in St. Louis, MO, my neice Chrysteene J Smith must first purchase a membership bond for $300,000. In addition, monthly membership dues are $3500. Suppose Chrysteene wants to put aside a lump sum of money now to pay for her basic country club membership expenses (including the $300,000 bond) over the next 25 years. Chrysteene can earn an APR of 9%, compounded monthly, on her investments. Determine the following: Max Earned Draw a CFD to represent the problem from Chrysteene's perspective 10 h Identify the proper equation to calculate the V value (price) of the bond 15 What amount must Chrysteene J Smith now commit to the membership? 25

May 25, 2022
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