1.Mr. Rogers borrowed $605000 from you 4 years ago. Assuming you charge 8% interest per...
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Accounting
1.Mr. Rogers borrowed $605000 from you 4 years ago. Assuming you charge 8% interest per year, how much will Mr. Rogers need to pay you back today (the due date of the loan)?
| 798600 | ||
| 822800 | ||
| 411400 | ||
| 444675 |
2. Your favorite cousin has funded a trust for your benefit. You will receive $952000 from the trust in 5 years. This represents the full balance of the trust. Assuming the trust earns 4% interest per year, how much did Your favorite cousininitially set aside in the trust?
| 1142400 | ||||||||||||||
| 782544 | ||||||||||||||
| 1158584 | ||||||||||||||
761600 3. Your rich relative has funded a trust for your benefit, investing $602000. You will receive the balance in the trust after 6 years. Assuming the trust earns 8% interest per year, how much will you receive?
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