Question
Hugh Curtin borrowed $32,800 on July 1, 2017. This amount plus accrued interest at 5% compounded annually is to be repaid on July 1, 2022.
Hugh Curtin borrowed $32,800 on July 1, 2017. This amount plus accrued interest at 5% compounded annually is to be repaid on July 1, 2022.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)
How much will Hugh have to repay on July 1, 2022?(Round answer to 2 decimal places, e.g. 25.25.)
Amount to be repaid on July 1, 2022_______
Sunland Company receives a $61,700, 9-year note bearing interest of 6% (paid annually) from a customer at a time when the discount rate is 7%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the present value of the note received by Sunland?(Round answer to 2 decimal places, e.g. 25.25.) Present value of note received________?
Blossom Company earns 12% on an investment that pays back $95,600 at the end of each of the next 7 years.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)
What is the amount Blossom Company invested to earn the 12% rate of return?(Round answer to 2 decimal places, e.g. 25.25.)
Blossom Company invested______?
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