In 1880, five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorio outlaw Ned Kelley. In 1996, the granddaughters of two of the trackers claimed that this reward had not been paid. The Victoria minister stated that if this was true, the government would be happy to pay the $100. However, the granddaughters also claim they were entitled to compound interest. a. How much was each granddaughter entitled to if the interest rate was 3% ? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Future value Answer is complete but not entirely correct. 3,370.00 Australian dollars b. How much was each entitled to if the interest rate was 6%? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Future value Answer is complete but not entirely correct. Australian dollars 102,659.22

In 1880, five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorio outlaw Ned Kelley. In 1996, the granddaughters of two of the trackers claimed that this reward had not been paid. The Victoria minister stated that if this was true, the government would be happy to pay the $100. However, the granddaughters also claim they were entitled to compound interest. a. How much was each granddaughter entitled to if the interest rate was 3% ? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Future value Answer is complete but not entirely correct. 3,370.00 Australian dollars b. How much was each entitled to if the interest rate was 6%? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Future value Answer is complete but not entirely correct. Australian dollars 102,659.22

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Jagdeep sold his Indian restaurant “Maya no Dhaba” to Jasleen for the amount of$450,000. On top of that, Jasleen paid another $50,000 for Jagdeep to agreed that hewon’t open a new Indian restaurant in the radius of 10 Kms for the next five years.Discuss whether the $50,000 payment is considered as Ordinary Income? please put 3 references
a mother earned $15000.00 from royalties on her cookbook. She set aside 20% of this for a down payment for a new home. The balance will be used for her son's future education. She invested a portion of the money in a bank certificate of a deposit (cd account) that earns 4% and the remainder in a savings bond that earns 7%. IF the total interest earned after one year is $720.00, how much money was invested at each rate?
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Elvera Easton traded in copying equipment with an adjusted basis of $10,000 for other copying equipment valued at $6,000. She also received $2,500 in cash, and her mortgage of $3,000 on the traded copying equipment was wiped out. What is her recognized gain on this exchange, if any

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