FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lynn Ally, owner of a local Subway shop, loaned $56,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn

Lynn Ally, owner of a local Subway shop, loaned $56,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn at the end of 9 years with 4% interest compounded semiannually. How much will Lynn receive at the end of 9 years? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

Future Value:____

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Health Care Finance Basic Tools For Nonfinancial Managers

Health Care Finance Basic Tools For Nonfinancial Managers

Authors: Judith J. Baker, R.W. Baker

4th Edition

1284029867, 978-1284029864

More Books

Students also viewed these Finance questions

Question

★★★★★
You have been hired by the CFO of Strayer University to develop a plan to protect its accounting and financial systems at a reasonable cost. Suggest a high-level plan for the CFO. Provide support for...

Answered: 1 week ago

Question

★★★★★
Explain the connection between automatic theorem proving and Prologs inferencing process.

Answered: 1 week ago

Question

★★★★★
2.80 Breathing Patterns Research psychologists are interested in finding out whether a person's breathing patterns are affected by a particular experimental treatment. To determine the general...

Answered: 1 week ago

Question

★★★★★
The accounting records of Downton Home Store show these data (in millions). The shareholders are very happy with Downtons steady increase in net income. Auditors discovered that the ending inventory...

Answered: 1 week ago

Question

★★★★★
Menlo Company distributes a single product. The company's sales and expenses for last month follow Sales Variable expenses Contribution margin Fixed expenses Net operating income Total $ 640,000...

Answered: 1 week ago

Question

★★★★★
1. What types of questions would you ask the OLG if you were interviewing for an internship? Would it make a difference to you if the internship were in casino operations or in responsible gaming?...

Answered: 1 week ago

Question

★★★★★
The impact of a modest downward shift in interest rates for aninverse floater is likely to be: a/ A large increase in value b/ A small increase in value c/ Negligible difference d/ A large decrease...

Answered: 1 week ago

Question

★★★★★
MGT/726: Emerging Managerial Practices WK 5 - Summative Assessment: Transitioning to a Virtual Environment [due Mon] Exam Content Details & Information Imagine that you have been asked ta make a...

Answered: 1 week ago

Question

★★★★★
Reliability is a probability. Explain the numerical value used to determine the reliability that a manufactured good, piece of equipment, or system performs as intend. How does it work?

Answered: 1 week ago

Question

★★★★★
Help Save & Exit Submit Check my work E7-7 (Algo) Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] Oahu Kiki tracks the number...

Answered: 1 week ago

Question

★★★★★
1.2.8 A manufacturer can automate a certain process by replacing 20 employees with a machine. The employees each earn 24,000 per year, with payments on the last day of each month, with no sala- ry...

Answered: 1 week ago

Question

★★★★★
how can you obtain the following competencies through RTM (Hospitality, tourism, recreation management)work experiences and courses? Please explain each of them. 1) Community Knowledge 2)...

Answered: 1 week ago

Question

★★★★★
2. Lets assume you are a member of a productive team that has received considerable praise from top management. You learn that one member of the team has met with the manager who organized the team...

Answered: 1 week ago

Question

★★★★★
3. Jeffrey T. Polzer has stated that sharing self-assessments and appraisals of one another through 360-degree feedback can help team members achieve interpersonal congruence. Do you agree with his...

Answered: 1 week ago

Question

★★★★★
3. Do you think Benoit Vincent would have benefited from involvement in a 360- degree multi-rater assessment program? Explain your answer.

Answered: 1 week ago

Previous Question Next Question