Lynn Ally, owner of a local Subway shop, loaned $46,000 to Pete Hall to help him...

Question

Question

business finance

Answer 1

Answer #1

Information provided:

Present value= $46,000

Time= 7 years*2= 14 semi-annaul periods

Interest rate= 4%/2= 2% per semi-annual period

The future value is calculated by entering the below in a financial calculator:

PV= -46,000

N= 14

I/Y= 2

Press the CPT key and FV to compute the future value.

The value obtained is 60,696.02.

Therefore, Lynn will receive $60,696.02 at the end of 7 years.

In case of any query, kindly comment on the solution.

Answer 2

Similar Homework Help Questions

Lynn Ally, owner of a local Subway shop, loaned $45,000 to Pete Hall to help him...

Lynn Ally, owner of a local Subway shop, loaned $45,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn at the end of 6 years with 12% interest compounded semiannually. How much will Lynn receive at the end of 6 years? (Do not round intermediate calculations. Round your answer to the nearest cent.)
Chel Lynn Ally, owner of a local Subway shop, loaned $46,000 to Pete Hall to help...

Chel Lynn Ally, owner of a local Subway shop, loaned $46,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn at the end of 7 years with 4% interest compounded semiannually. How much will Lynn receive at the end of 7 years? (Do not round intermediate calculations. Round your answer to the nearest cent.) Future value 2. Key Steps in the Personal Selling Process Key Steps in the Personal Selling Process Selling is a...
Anne Katz, the owner of Katz Sport Shop, loaned Shelley Slater $8,000 to help her open...

Anne Katz, the owner of Katz Sport Shop, loaned Shelley Slater $8,000 to help her open an art shop. Shelley plans to repay Anne at the end of eight years with interest compounded semiannually at 8%. At the end of eight years, Anne will receive Multiple Choice 0 $13,120 0 $14,484 0 0 $14.983.85 $13.120 $14,484 $14,983.85 $14.807.44

Kathy Crag, the owner of The Fabric Comer, lent $15,000 to Dani Flynn to open her...

Kathy Crag, the owner of The Fabric Comer, lent $15,000 to Dani Flynn to open her own card shop. Dani plans to repay Kathy at the end of 12 years with 8% interest compounded quarterly. How much will Kathy receive at the end of 12 years? (Round your answer to the nearest cent.)
Please read the article and answer about questions. You and the Law Business and law are...

Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...