The following situations should be considered independently. (FV of $1. PV of $1. EVA of S1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. John Jamison wants to accumulate $79,881 for a down payment on a small business. He will invest $37,000 today in a bank account paying 8% interest compounded annually. Approximately how long will it take John to reach his goal? 2. The Jasmine Tea Company purchased merchandise from a supplier for $48,755. Payment was a noninterest-bearing note requiring Jasmine to make six annual payments of $9,000 beginning one year from the date of purchase. What is the interest rate implicit in this agreement? 3. Sam Robinson borrowed $23,000 from a friend and promised to pay the loan in 15 equal annual installments beginning one year from the date of the loan. Sam's friend would like to be reimbursed for the time value of money at a 9% annual rate. What is the annual payment Sam must make to pay back his friend? ped ook Complete this question by entering your answers in the tabs below. ences Required: Required 2 Required 3 John Jamison wants to accumulate $79,881 for a down payment on a small business. He will invest $37,000 today in a bank account paying 8% interest compounded annually. Approximately how long will it take John to reach his goal? (Do not round intermediate calculations. Round the value of to the nearest whole number) Present Value 5 Hely Jasmine to make six annual payments of $9,000 beginning one year from the date of purchase. What is the interest rate implic agreement? 3. Sam Robinson borrowed $23,000 from a friend and promised to pay the loan in 15 equal annual installments beginning one from the date of the loan Sam's friend would like to be reimbursed for the time value of money at a 9% annual rate. What is the payment Sam must make to pay back his friend? Complete this question by entering your answers in the tabs below. ts -kipped Required 1 Required 2 Required 3 eBook The Jasmine Tea Company purchased merchandise from a supplier for $48,755. Payment was a noninterest-bearing note requiring Jasmine to make six annual payments of $9,000 beginning one year from the date of purchase. What is the interest rate implicit in this agreement? (Do not round intermediate calculations. Round the interest rate to 1 decimal place.) Print ferences Present Value n 1 Annuity Payment Jasmine to make six annual payments of $9,000 beginning one year from the date of purchase. What is the interest rate impli agreement? 3. Sam Robinson borrowed $23,000 from a friend and promised to pay the loan in 15 equal annual installments beginning on from the date of the loan. Sam's friend would like to be reimbursed for the time value of money at a 9% annual rate. What is th payment Sam must make to pay back his friend? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Sam Robinson borrowed $23,000 from a friend and promised to pay the loan in 15 equal annual installments beginning one year from the date of the loan. Sam's friend would like to be reimbursed for the time value of money at a 9% annual rate. What is the annual payment Sam must make to pay back his friend? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Show less Table or calculator function Present Value n Annual Installment
