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1) Jake and Mark have $700,000 saved for retirement. Their account earns 4% interest. How much...

1) Jake and Mark have $700,000 saved for retirement. Their account earns 4% interest. How much will they be able to pull out each month, if they want to be able to take withdrawals for 15 years? (Round to the nearest cent/penny)

2) Susan and Maria want to buy a $579,000 home. They plan to pay 5% as a down payment, and take out a 30 year loan for the rest. After taking into account the down payment being made (and the rest being borrowed), what will their monthly payments be if the interest rate is 6%? (Round to the nearest cent/penny)

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