In 1895, the first U.S. Open Golf Championship was held. The winner’s prize money was $150. In 2016, the winner’s check was $2.3 million. What was the percentage increase per year in the winner’s check over this period?

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A: While the pamphlet may not contain any outright lies, it could still mislead people by using…

Q: Assume you borrow $30,000 today at a rate of 13%. The loan will be returned over a five-year period,…

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Q: 1. Find the interest paid on a loan of $2000 for 1 year at a simple interest rate of 7% per year.

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A: Present value (PV) is the current value of a future payment or series of payments, discounted at a…

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A: Present value is the value of investment in today's dollar.Future value is the value of investment…

Q: You are going to get %10,000,000 in 45 years' time. What is the value of that money today assuming…

A: Present value can be calculated by using the following formula.

Q: 10. What is the annual interest rate on a 1000 dollars loan in which all interest is paid at the end…

A:

Q: Extra #2. A loan is repaid with 24 monthly installments at the end of every month. The first payment…

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Q: How many years will it take an investment to triple if the interest rate is 6% compounded…

A: Given: Future value = 3 * Present value Thus FV = 3PV Interest rate (i) = 0.06 Time (t) = ?

Q: Tamara Massey received $1,500,000 from an insurance company after her husband's death. She wants to…

A: Interest rate per month can be calculated as follows: Thus, the interest rate is 0.67%

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A: here we calculate how much would  have immediately after the fifth deposit  by following method…

Q: If you paid $56 to a loan company for the use of $1,478 for 96 days, what annual rate of interest…

A:

Q: Sam promises to pay Sandy $2,000 in four years and another $3,000 four years later for a loan of…

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Q: You borrow $700,000 at 3% interest for 30 years on a mortgage.  How much total will you pay back on…

A: Compound interest is also referred to as "interest that is not simple." Compound interest does not…

Q: am. 112.

A: The problem is asking us to calculate the amount of interest Wendy must pay for a loan of $12,000 at…

Q: 4. Ellen borrowed P100,000 from a local bank at 10% annually. She must pay back the loan in five…

A: Given; Amount borrowed= P100000 Interest rate= 10% annually Time period= 5 years Number of…

Q: If $18,000 is invested at 9% for 15 years, find the future value if the interest is compounded…

A: The formula to be used is  At = Ao [1 + r / 2 ]2t Where, At = future valueAo = 18,000r = 9% or 0.09t…

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Q: Michelle Hunter received $250,000 from an insurance company after her hus- band's death. Michelle…

A: An interest rate is the amount of interest due per period, as a proportion of the amount lent,…

Q: If a lender gives you a loan for $500,000 today. You promise to pay $X a year for the next 30 years.…

A: Present value is the value of investment in today's dollar. Future value is the value of investment…

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A: Annually Deposit = 2800 r = 4% Amount = 49000

Q: On January 1, 2005, a person’s savings account was worth $200,000. Every month thereafter, this…

A: Part 2: Explanation:Step 1: Calculate the Future Value (FV) using the formula for compound…

Q: Cash Flow is based on the notion that a dollar paid in the future is less valuable than a dollar…

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Q: You were released from your current job and received a settlement of $54,000. The Canada Revenue…

A: