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00 Help Save & Exit Sul Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 1, John Jamison wants to accumulate $80170 for a down payment on a small business. He will invest $34,000 today in a bank account paying 10% interest compounded annually 2. The Jasmine Tea Company purchased merchandise from a supplier for $48,016. Payment was a noninterest-bearing note requiring Jasmine to make seven annual payments of $8,000 beginning one year from the date of purchase. What is the Interest rate implicit in this agreement? 3. Sam Robinson borrowed $22,000 from a friend and promised to pay the loan in 12 equal annual installments beginning one year from the date of the loan. Sam's friend would Ilike to be reimbursed for the time value of money at an 11 % annual rate. What is the annual payment Sam must make to pay back his friend? proximately how long will it take John to reach his goal? 10 points Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 John Jamison wants to accumulate $80,170 for a down payment on a small business. He will invest $34,000 today in a bank account paying 10 % interest compounded annually. Approximately how long will it take John to reach his goal? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Present Value: 34,000 n 90 10 % O Future Value 80,170 Required 2 Prev 8 of 9 Next 00 Chapter 06 i Saved Help Save & Exit Submit Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 1. John Jamison wants to accumulate $80,170 for a down payment on a small business. He will invest $34,000 today in a bank account paying 10 % 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 $48,016. Payment was a noninterest-bearing note requiring Jasmine to make seven annual payments of $8,000 beginning one year from the date of purchase. What is the interest rate implicit in this agreement? 3. Sam Robinson borrowed $22,000 from a friend and promised to pay the loan in 12 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 an 11 % annual rate. What is the annual payment Sam must make to pay back his friend? 10 Doints Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 The Jasmine Tea Company purchased merchandise from a supplier for $48,016. Payment was a noninterest-bearing note requiring Jasmine to make seven annual payments of $8,000 beginning one year from the date of purchase. What is the interest rate implicit in this agreement? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Show less A Present Value: 7 n 4.0% Annuity Payment 8.000 Me Prev Saved Help Save & Exit Submit Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 1. John Jamison wants to accumulate $80,170 for a down payment on a small business. He will invest $34,000 today in a bank account paying 10 % interest compounded annu 2. The Jasmine Tea Company purchased merchandise from a supplier for $48,016. Payment was a noninterest-bearing note requiring Jasmine to make seven annual payments of $8,000 beginning one year from the date of purchase. What is the interest rate implicit in this agreement? 3. Sam Robinson borrowed $22,000 from a friend and promised to pay the loan in 12 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 an 11% annual rate. What is the annual payment Sam must make to pay back his friend? Approximately how long will it take John to reach his goal? 10 points Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Sam Robinson borrowed $22,000 from a friend and promised to pay the loan in 12 equal annual instailmen year from the date of the loan. Sam's friend would like to be reimbursed for the time value of money at an 11% 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.) beginning one Show less Table or calculaton function PVA of $1 Present Value 22.000 12 i 11% e Annual Installment S 3.389