Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. lynn ally, owner of a local subway shop, loaned $4

Lynn Ally, owner of a local Subway shop, loaned $43,000 to Pete Hall to help...

80.2K

Verified Solution

Question

Finance

Lynn Ally, owner of a local Subway shop, loaned $43,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn at the end of 7 years with 8% interest compounded semiannually.

How much will Lynn receive at the end of 7 years? (Do not round intermediate calculations. Round your answer to the nearest cent.)

Future Value:

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

You are working in a clinical laboratory, as an entry-level laboratory technician (average salary $35k-$58k/yr). You...

Psychology
1.2K views

What issues were raised by students of Japanese descent in Hawaii? 1. Describe the development of black...

Physics
1.2K views

A fan is designed to last for a certain time before it will have to be...

Physics
1.2K views

The figure shows two equal positive charges each of magnitude 50 C fixed at points...

Calculus
1.2K views

Find two numbers differing by 36 whose product is as small as possible Enter your...

Accounting
1.2K views

EIS-14. In a recent year, the stockholders' equity section of Aluminum Company of America (Aloo)...

Accounting
1.2K views

3.Create a one-way data table using the values in cells B32:B43 after referencing total profit...

Accounting
1.2K views

Armando Company owns 17,000 of the 70,000 shares of common stock outstanding of Tito Company...

Accounting
1.2K views

TyroneCo, an S corporation with a positive E & P balance, reports gross receipts for...

Accounting
1.2K views

What is your opinion of the measures being taken by the tax authorities to ensure...

Finance
1.2K views

Answer the next question on the basis of the following consolidated balance sheet of the...

Accounting
1.2K views

Cycle efficiency: A) Is the ratio of value-added time to total cycle time. B) Is...