Lynn Ally, owner of a local Subway shop, loaned $51,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn at the end of 9 years with 4% interest compounded semiannually. How much will Lynn receive at the end of 9 years? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
Lynn Ally, owner of a local Subway shop, loaned $51,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn at the end of 9 years with 4% interest compounded semiannually. How much will Lynn receive at the end of 9 years? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
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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I keep getting the wrong answers is there anybody that can help me answer this correctly???
Transcribed Image Text:Lynn Ally, owner of a local Subway
shop, loaned $51,000 to Pete Hall to
help him open a Subway franchise.
Pete plans to repay Lynn at the end
of 9 years with 4% interest
compounded semiannually.
How much will Lynn receive at the
end of 9 years? (Use the Table
provided.) (Do not round
intermediate calculations. Round
your answer to the nearest cent.)
Future value
Transcribed Image Text:Future value interest factor of $1 per period at i% for n periods, FVIF(i,n).
3.0% 3.5%
6.5%
7.0%
8.0%
1.7716
7
1.0355 1.0721
1.9487
8
2.1436
2.3579
2.5937
2.8531
3.1384
3.4523
3.7975
4.1772
4.5950
5.0545
5.5599
6.1159
20
6.7275
7.4002
6.0180
8.1403
6.5296
7.2579
8.9543
7.0846
7.9111
8.8296
9.8497
Period 0.5% 1.0% 1.5% 2.0% 2.5%
4.0%
4.5%
5.0% 5.5% 6.0%
7.5%
1 1.0050 1.0100 1.0150 1.0200 1.0250 1.0300
1.0350 1.0400 1.0450 1.0500 1.0550 1.0600 1.0650 1.0700 1.0750
2 1.0100 1.0201 1.0302 1.0404 1.0506 1.0609 1.0712 1.0816 1.0920 1.1025 1.1130 1.1236 1.1342 1.1449 1.1556
3 1.0151 1.0303 1.0457 1.0612 1.0769 1.0927 1.1087 1.1249 1.1412 1.1576 1.1742 1.1910 1.2079 1.2250 1.2423
4 1.0202 1.0406 1.0614 1.0824 1.1038 1.1255 1.1475 1.1699 1.1925 1.2155 1.2388 1.2625 1.2865 1.3108 1.3355
5 1.0253 1.0510 1.0773 1.1041 1.1314 1.1593 1.1877 1.2167 1.2462 1.2763 1.3070 1.3382 1.3701 1.4026 1.4356
6 1.0304 1.0615 1.0934 1.1262 1.1597 1.1941 1.2293 1.2653 1.3023 1.3401 1.3788 1.4185 1.4591 1.5007 1.5433
1.1098| 1.1487 1.1887 1.2299 1.2723 1.3159 1.3609 1.4071 1.4547 1.5036 1.5540 1.6058 1.6590
1.0407 1.0829 1.1265 1.1717 1.2184 1.2668 1.3168 1.3686 1.4221 1.4775 1.5347 1.5938 1.6550 1.7182 1.7835
9 1.0459 1.0937 1.1434 1.1951 1.2489 1.3048 1.3629 1.4233 1.4861 1.5513 1.6191 1.6895 1.7626 1.8385
1.9172
10 1.0511 1.1046 1.1605 1.2190 1.2801 1.3439 1.4106 1.4802 1.5530 1.6289
1.7081 1.7908 1.8771 1.9672 2,0610
11 1.0564 1.1157 1.1779 1.2434 1.3121 1.3842 1.4600 1.5395 1.6229 1.7103 1.8021 1.8983 1.9992 2.1049 2.2156
12 1.0617 1.1268 1.1956 1.2682 1.3449 1.4258 1.5111 1.6010 1.6959 1.7959 1.9012 2.0122 2.1291 2.2522 2.3818
13 1.0670 1.1381 1.2136 1.2936 1.3785 1.4685 1.5640 1.6651 1.7722 1.8856 2.0058 2.1329 2.2675 2.4098 2.5604
14 1.0723 1.1495 1.2318 | 1.3195 1.4130 1.5126 1.6187 1.7317 1.8519 1.9799 21161 2.2609 2.4149 2.5785 2.7524
15 1.0777 1.1610 1.2502 1.3459 1.4483 1.5580 1.6753 1.8009 1.9353 2.0789 2.2325 2.3966 2.5718 2.7590
2.9589
16 1.0831 1.1726 1.2690 1.3728 1.4845 1.6047 1.7340 1.8730 2.0224 2.1829 2.3553 2.5404 2.7390 2.9522 3.1808
17 1.0885 1.1843 1.2880 1.4002 1.5216 1.6528 1.7947 1.9479 2.1134 2.2920 2.4848 2.6928 2.9170 3.1588 3.4194
18
1.0939 1.1961 1.3073 | 1.4282 1.5597
1.7024 1.8575 2.0258 2.2085 2.4066 2.6215 2.8543 3.1067 3.3799 3.6758
19 1.0994 1.2081 1.3270 1.4568 1.5987 1.7535 1.9225 2.1068 2.3079 2.5270 2.7656 3.0256 3.3086 3.6165 3.9515
1.1049 1.2202 1.3469 1.4859 1.6386 1.8061 1.9898 2.1911 2.4117 2.6533 2.9178 3.2071 3.5236 3.8697 4.2479
21 1.1104 1.2324 1.3671 1.5157 1.6796 1.8603 2.0594 2.2788 2.5202 2.7860 3.0782 3.3996 3.7527 4.1406
4.5664
22 1.1160 1.2447 1.3876 1.5460 1.7216 1.9161 2.1315 2.3699 2.6337 2.9253 3.2475 3.6035 3.9966 4.4304 4.9089
23 1.1216 1.2572 1.4084 1.5769 1.7646 1.9736 2.2061 2.4647 2.7522 3.0715 3.4262 3.8197 4.2564 4.7405 5.2771
24 1.1272 1.2697 1.4295 1.6084 1.8087 2.0328 2.2833 2.5633 2.8760
3.2251 3.6146 4.0489 4.5331 5.0724
25 1.1328 1.2824 1.4509 1.6406 1.8539 2.0938 2.3632 2.6658 3.0054 3.3864 3.8134 4.2919 4.8277 5.4274
26 1.1385 1.2953 1.4727 1.6734 1.9003 2.1566 2.4460 2.7725 3.1407 3.5557 4.0231 4.5494 5.1415 5.8074
27 1.1442 1.3082 1.4948 1.7069 1.9478 2.2213 2.5316 2.8834 3.2820 3.7335 4.2444 4.8223 5.4757 6.2139
28 1.1499 1.3213 1.5172 1.7410 1.9965 2.2879 2.6202 2.9987 3.4297 3.9201 4.4778 5.1117 5.8316 6.6488 7.5759 8.6271 9.8182 11.1671 12.6939
29 1.1556 1.3345 1.5400 | 1.7758 2.0464 2.3566 2.7119 3.1187 3.5840 4.1161 4.7241 5.4184 6.2107 7.1143 8.1441 9.3173 10.6528 12.1722 13.8998
30 1.1614 1.3478 1.5631 1.8114 2.0976 2.4273 2.8068 3.2434 3.7453 4.3219 4.9840 5.7435 6.6144 7.6123 8.7550 10.0627 11.5583 13.2677 15.2203
31 1.1672 1.3613 1.5865 1.8476 2.1500 2.5001 2.9050 3.3731 3.9139 4.5380 5.2581 6.0881 7.0443 8.1451 9.4116 10.8677 12.5407 14.4618 16.6662
32 1.1730 1.3749 1.6103 1.8845 2.2038 2.5751 3.0067 3.5081 4.0900 4.7649 5.5473 6.4534 7.5022 8.7153 10.1174 11.7371 13.6067 15.7633 18.2495 21.1138
33 1.1789 1.3887 1.6345 1.9222 2.2589 2.6523 3.1119 3.6484 4.2740 5.0032 5.8524
6.8406 7.9898 9.3253
10.8763 12.6760 14.7632 17.1820 19.9832 23.2252
34
2.3153 2.7319 3.2209 3.7943 4.4664 5.2533 6.1742 7.2510 8.5092 9.9781 11.6920 13.6901
16.0181 18.7284 21.8816 25.5477
1.1907 1.4166 1.6839 | 1.9999 2.3732 2.8139 3.3336 3.9461 4.6673 5.5160 6.5138 7.6861 9.0623 10.6766 12.5689 14.7853 17.3796 20.4140 23.9604
1.1967 1.4308 1.7091 2.0399 2.4325 2.8983 3.4503 4.1039 4.8774 5.7918 6.8721 8.1473 9.6513 11.4239 13.5115 15.9682 18.8569 22.2512 26.2366
37 1.2027 1.4451 1.7348 2.0807 2.4933 2.9852 3.5710 4.2681 5.0969 6.0814 7.2501 8.6361 10.2786 12.2236 14.5249 17.2456 20.4597 24.2538 28.7291
38 1.2087 1.4595 1.7608 | 2.1223 2.5557 3.0748 3.6960 4.4388 5.3262 6.3855 7.6488 9.1543 10.9467 13.0793 15.6143
18.6253 22.1988 26.4367 31.4584
39 1.2147 1.4741 1.7872 2.1647 2.6196 3.1670 3.8254 4.6164 5.5659
6.7048 8.0695
9.7035 11.6583 13.9948 16.7853 20.1153 24.0857 28.8160
34.4469
1.2208 1.4889 1.8140 2.2080 2.6851 3.2620 3.9593 4.8010 5.8164 7.0400 8.5133 10.2857 12.4161 14.9745 18.0442 21.7245 26.1330 31.4094
37.7194
1.2269 1.5038 1.8412 2.2522 2.7522 3.3599 4.0978 4.9931 6.0781 7.3920 8.9815 10.9029 13.2231 16.0227 19.3976 23.4625 28.3543 34.2363 41.3027
1.2330 1.5188 1.8688 2.2972 2.8210 3.4607 4.2413 5.1928 6.3516 7.7616 9.4755 11.5570 14.0826 17.1443
20.8524
25.3395 30.7644 37.3175 45.2265
1.2392 1.5340 1.8969 2.3432 2.8915 3.5645 4.3897 5.4005 6.6374 8.1497 9.9967 12.2505 14.9980 18.3444
22.4163 27.3666 33.3794 40.6761 49.5230
1.2454 1.5493 1.9253 2.3901 2.9638 3.6715 4.5433 5.6165 6.9361 8.5572 10.5465 12.9855 15.9729 19.6285 24.0975 29.5560 36.2167 44.3370 54.2277
1.2516 1.5648 1.9542 2.4379 3.0379 3.7816 4.7024 5.8412 7.2482 8.9850 11.1266 13.7646 17.0111 21.0025 25.9048 31.9204 39.2951 48.3273 59.3793
1.2579 1.5805 1.9835 2.4866 3.1139 3.8950 4.8669 6.0748 7.5744 9.4343 11.7385 14.5905 18.1168 22.4726 27.8477 34.4741 42.6352 52.6767 65.0204
1.2642 1.5963 2.0133 2.5363 3.1917 4.0119 5.0373 6.3178 7.9153 9.9060 12.3841 15.4659 19.2944 24.0457 29.9363 37.2320 46.2592 57.4176 71.1973
48 1.2705 1.6122 2.0435 2.5871 3.2715 4.1323 5.2136 6.5705 8.2715 10.4013 13.0653 16.3939 20.5485 25.7289 32.1815 40.2106 50.1912 62.5852 77.9611
49 1.2768 1.6283 2.0741 2.6388 3.3533 4.2562 5.3961 6.8333 8.6437 10.9213 13.7838 17.3775 21.8842 27.5299 34.5951 43.4274 54.4574 68.2179 85.3674
50 1.2832 1.6446 2.1052 2.6916 3.4371 4.3839 5.5849 7.1067 9.0326 11.4674 14.5420 18.4202 23.3067 29.4570 37.1897 46.9016 59.0863 74.3575 93.4773
5.6729
6.0983
7.6868
8.6231
9.6684
6.5557
7.3964
8.3401
9.3992 10.5869
10.2451 11.5926
7.0474
7.9881
9.0490
10.8347
11.9182
13.1100
14.4210
15.8631
17.4494
19.1943
1.1848 1.4026 1.6590 1.9607
35
28.1024
36
30.9127
34.0039
37.4043
41.1448
40
41
42
43
44
45
46
47
1.0800
1.1664
1.2597
1.3605
1.4693
1.5869
1.7138
1.8509
1.9990
2.1589
2.3316
2.5182
2.7196
2.9372
3.1722
3.4259
3.7000
3.9960
4.3157
4.6610
5.0338
5.4365
5.8715
6.3412
6.8485
8.5%
1.0850
1.1772
1.2773
1.3859
1.5037
1.6315
1.7701
1.9206
2.0839
2.2610
2.4532
2.6617
2.8879
3.1334
3.3997
3.6887
4.0023
4.3425
4.7116
5.1120
5.5466
9.0%
1.0900
1.1881
1.2950
1.4116
1.5386
1.6771
1.8280
1.9926
2.1719
2.3674
2.5804
2.8127
3.0658
3.3417
3.6425
3.9703
4.3276
4.7171
5.1417
5.6044
6.1088
6.6586
9.5%
1.0950
1.1990
1.3129
1.4377
1.5742
1.7238
1.8876
2.0669
2.2632
2.4782
2.7137
2.9715
3.2537
3.5629
3.9013
4.2719
4.6778
5.1222
5.6088
6.1416
6.7251
7.3639
8.0635
10.0%
1.1000
1.2100
1.3310
1.4641
1.6105
45.2593
49.7852
54.7637
60.2401
66.2641
72.8905
80.1795
88.1975
97.0172
106.7190
117.3909
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