Find the PV of This 3-Year Ordinary Couvay dich Annuity to 62 Loan Amortization As way...

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Find the PV of This 3-Year Ordinary Couvay dich Annuity to 62 Loan Amortization As way for Fasgow.ww grachor sang p schede fra st., 12% 2 ore loan wha Find the Required Annual Payment pastikan Find the Interest Paid in Year 1 The bow on laat upon the halance at the date INT, Bgb1 INT, $1,30.1 100 D Step 3: Find the Principal Rapaid in Year 1 Da payment of 98.17 de an inter the amount of pix eart the Find the Ending Salanche Year To find the head of the period. END BAL BEGAN -10-30.11 -$37.00 Constructing an Amortization Tables Rep Step 1-4 Udd that of Lean des with each payment as 5-38 PV AND A LAWSUIT SETTLEMENT It is now December 31, 2008 (t = 0), and a jury just found in favor of a woman who sued the city for injuries sustained in a January 2007 accident. She requested recovery of lost wages plus $100,000 for pain and suffering plus $20,000 for legal expenses. Her doctor testified that she has been unable to work since the accident and that she will not be able to work in the future. She is now 62, and the jury decided that she would have worked for another 3 years. She was scheduled to have earned $34,000 in 2007. (To simplify this problem, assume that the entire annual salary amount would have been received on December 31, 2007.) Her employer testified that she probably would have received raises of 3% per year. The actual payment will be made on December 31, 2009. The judge stipulated that all dollar amounts are to be adjusted to a present value basis on December 31, 2009, using a 7% annual interest rate and using compound, not simple, interest. Furthermore, he stipulated that the pain and suffering and legal expenses should be based on a December, 31, 2008, date. How large a check must the city write on December 31, 2009? stration Aid Pent: Where does the me? 302.11 Find the PV of This 3-Year Ordinary Couvay dich Annuity to 62 Loan Amortization As way for Fasgow.ww grachor sang p schede fra st., 12% 2 ore loan wha Find the Required Annual Payment pastikan Find the Interest Paid in Year 1 The bow on laat upon the halance at the date INT, Bgb1 INT, $1,30.1 100 D Step 3: Find the Principal Rapaid in Year 1 Da payment of 98.17 de an inter the amount of pix eart the Find the Ending Salanche Year To find the head of the period. END BAL BEGAN -10-30.11 -$37.00 Constructing an Amortization Tables Rep Step 1-4 Udd that of Lean des with each payment as 5-38 PV AND A LAWSUIT SETTLEMENT It is now December 31, 2008 (t = 0), and a jury just found in favor of a woman who sued the city for injuries sustained in a January 2007 accident. She requested recovery of lost wages plus $100,000 for pain and suffering plus $20,000 for legal expenses. Her doctor testified that she has been unable to work since the accident and that she will not be able to work in the future. She is now 62, and the jury decided that she would have worked for another 3 years. She was scheduled to have earned $34,000 in 2007. (To simplify this problem, assume that the entire annual salary amount would have been received on December 31, 2007.) Her employer testified that she probably would have received raises of 3% per year. The actual payment will be made on December 31, 2009. The judge stipulated that all dollar amounts are to be adjusted to a present value basis on December 31, 2009, using a 7% annual interest rate and using compound, not simple, interest. Furthermore, he stipulated that the pain and suffering and legal expenses should be based on a December, 31, 2008, date. How large a check must the city write on December 31, 2009? stration Aid Pent: Where does the me? 302.11