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Bob Kramer would like to invest in a $120,000 face value note payable. The note has a 7 -year term and pays 4% annual interest
Bob Kramer would like to invest in a $120,000 face value note payable. The note has a 7 -year term and pays 4% annual interest at the end of each year. Interest is compounded annually. Read the requirements 38. Requirement a. What would he pay for the note if he wanted the note to yield. 4%. (Use the present value and future value tables, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round your final answer to the nearest cent, SXXX.) Bob would pay if he wanted the note to yield 4%. Requirement b. What would he pay for the note if he wanted the note to yield 8%. (Use the present value and future value tables, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X XXXXXX. Round your final answer to the nearest cent, $XXX ) Bob would pay if he wanted the note to yield 8%. Requirement b. What would he pay for the note if he wanted the note to yield 8%. (Use the present value and future value tables, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round your final answer to the nearest cent, $X.XX.) Bob would pay if he wanted the note to yield 8%. Requirement c. What would he pay for the note if he wanted the note to yield 19%. (Use the present value and future value tables, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXX. Round your final answer to the nearest cent, $XX.) Bob would pay
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