a) Flounder Company is considering an investment which will return a lump sum of $2,535,000 six years from now. What amount should Flounder Company pay for this investment to earn an 11% return? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 0 decimal places, e.g. 5,275.) Click here to view the factor table.

Amount pay for investment

$enter the amount company will pay for investment in dollars rounded to 0 decimal places

b) Blossom Curtin borrowed $31,000 on July 1, 2022. This amount plus accrued interest at 5% compounded annually is to be repaid on July 1, 2027. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much will Blossom have to repay on July 1, 2027? (Round answer to 2 decimal places, e.g. 25.25.)

Amount to be repaid on July 1, 2027

$enter the amount to be repaid on July 1, 2027 in dollars rounded to 2 decimal places