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Lee Wills loaned Audrey Chin $16,000 to open Snip Its Hair Salon. After 6 years, Audrey will repay Lee with 8% interest compounded quarterly. How
Lee Wills loaned Audrey Chin $16,000 to open Snip Its Hair Salon. After 6 years, Audrey will repay Lee with 8% interest compounded quarterly. How much will Lee receive at the end of 6 years? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Future value C Period 0.5% 1.0% 1.5% 2.0% 1 1.0050 1.0100 1.0150 1.0200 2 3469 3 4 5 6 7 1.0100 1.0201 1.0302 1.0404 1.0151 1.0303 1.0457 1.0612 1.0202 1.0406 1.0614 1.0824 1.0253 1.0510 1.0773 1.1041 1.0304 1.0615 1.0934 1.1262 1.0355 1.0721 1.1098 1.1487 1.0769 2.5% 3.0% 3.5% 4.0% 4.5% 1.0250 1.0300 1.0350 1.0400 1.0450 1.0506 1.0609 1.0712 1.0816 1.0920 1.0927 1.1087 1.1249 1.1412 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% 1.0500 1.0550 1.0600 1.0650 1.0700 1.0750 1.0800 1.0850 1.0900 1.0950 1.1000 1.1025 1.1130 1.1236 1.1342 1.1449 1.1556 1.1664 1.1772 1.1881 1.1990 1.2100 1.1576 1.1038 1.1314 1.1255 1.1475 1.1593 1.1699 1.1925 1.1877 1.2167 1.2462 1.1597 1.1941 1.2293 1.2653 1.3023 1.1887 1.2299 1.2723 1.3159 1.3609 1.1742 1.2155 1.2388 1.2763 1.3070 1.3401 1.3788 1.4071 1.4547 1.1910 1.2079 1.2625 1.2865 1.3382 1.3701 1.4026 1.4185 1.4591 1.5036 1.5540 1.2250 1.2423 1.2597 1.2773 1.2950 1.3129 1.3310 1.3108 1.3355 1.3605 1.3859 1.4116 1.4377 1.4641 1.4356 1.4693 1.5037 1.5386 1.5742 1.6105 1.5007 1.5433 1.5869 1.6315 1.6771 1.7238 1.7716 1.6058 1.6590 1.7138 1.7701 1.8280 1.8876 1.9487 8 1.0407 1.0829 1.1265 1.1717 1.2184 1.2668 1.3168 9 1.0459 1.0937 1.1434 1.1951 1.2489 10 1.0511 1.1046 1.1605 1.2190 1.2801 1.3048 1.3629 1.3439 1.4106 1.3686 1.4221 1.4233 1.4861 1.4802 1.5530 1.4775 1.5347 1.5938 1.6550 1.7182 1.7835 1.8509 1.9206 1.9926 2.0669 2.1436 1.5513 1.6289 1.6191 1.7081 1.6895 1.7626 1.8385 1.9172 1.9990 2.0839 2.1719 2.2632 2.3579 1.7908 1.8771 1.9672 2.0610 2.1589 2.2610 2.3674 2.4782 2.5937
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