Question
Hugh Curtin borrowed $39,000 on July 1, 2022. This amount plus accrued interest at 10% compounded annually is to be repaid on July 1, 2027.
Hugh Curtin borrowed $39,000 on July 1, 2022. This amount plus accrued interest at 10% 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 Hugh 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 a dollar amount rounded to 2 decimal places |
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Wildhorse Co. is considering an investment that will return a lump sum of $912,000 6 years from now. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Wildhorse Co. pay for this investment to earn an 10% return? (Round answer to 2 decimal places, e.g. 25.25.)
Blossom Company is considering investing in an annuity contract that will return $27,000 annually at the end of each year for 20 years. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount should Blossom Company pay for this investment if it earns an 6% return? (Round answer to 2 decimal places, e.g. 25.25.)
Blossom Company should pay | $enter an amount to be paid in dollars rounded to 2 decimal places |
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