None The following situations should be considered independently.1. You want to accumulate $77,961 for a down payment on a small business. You will invest$39,000 today in a bank account paying 8% interest compounded annually. Approximatelyhow long will it take you to reach this goal?2. The Jasmine Tea Company purchased merchandise from a supplier for $46,676. Paymentwas a noninterest-bearing note requiring Jasmine to make five annual payments of $12,000beginning one year from the date of purchase. What is the interest rate implicit in thisagreement?3. You borrowed $21,000 from a friend and promised to pay the loan in 10 equal annualinstallments beginning one year from the date of the loan. Your friend would like to bereimbursed for the time value of money at a 9% annual rate. What is the annual paymentyou must make to pay back your friend?Note: For all requirements, Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVAof $1, PVA of $1, FVAD of $1 and PVAD of $1)Complete this question by entering your answers in the tabs below.Required 1Required 2 Required 3You want to accumulate $77,961 for a down payment on a small business. You will invest $39,000 todpaying 8% interest compounded annually. Approximately how long will it take you to reach this goal?Note: Do not round intermediate calculations. Round the value of "n" to the nearest whole number.Present Value:Future Valuen =i=< Required 1Required 2 >

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1. You want to accumulate $77,961 for a down payment on a small business. You will invest $39,000 today in a bank account paying 8% interest compounded annually. Approximate how long will it take you to reach this goal? 2. The Jasmine Tea Company purchased merchandise from a supplier for $46,676. Paymen was a noninterest-bearing note requiring Jasmine to make five annual payments of $12,0 beginning one year from the date of purchase. What is the interest rate implicit in this agreement? 3. You borrowed $21,000 from a friend and promised to pay the loan in 10 equal annual installments beginning one year from the date of the lean Your friend would like to be

1. You want to accumulate $77,961 for a down payment on a small business. You will invest $39,000 today in a bank account paying 8% interest compounded annually. Approximate how long will it take you to reach this goal? 2. The Jasmine Tea Company purchased merchandise from a supplier for $46,676. Paymen was a noninterest-bearing note requiring Jasmine to make five annual payments of $12,0 beginning one year from the date of purchase. What is the interest rate implicit in this agreement? 3. You borrowed $21,000 from a friend and promised to pay the loan in 10 equal annual installments beginning one year from the date of the lean Your friend would like to be

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter17: The Management Of Cash And Marketable Securities

Section: Chapter Questions

Problem 10P

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