Compute the amount that can be borrowed under each of the following circumstances: (PV of $1,...
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Compute the amount that can be borrowed under each of the following circumstances: (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places.) 1. A promise to repay $99,000 nine years from now at an interest rate of 9%. 2. An agreement to make three separate annual payments of $12,000, with the first payment occurring 1 year from now. The annual interest rate is 3%. Option 1 Table Value Amount Present Value Loan amount $ Option 2 Table Value Amount Present Value Annual payments 0 Algoe expects to invest $1,900 annually for 15 years to yield an accumulated value of $51,588.99 on the date of the last investment. For this to occur, what rate of interest must Algoe earn? (PV of $1. FV of $1. PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Future Value Annuity Payment Table Factor Interest Rate 96 Compute the amount that can be borrowed under each of the following circumstances: (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places.) 1. A promise to repay $99,000 nine years from now at an interest rate of 9%. 2. An agreement to make three separate annual payments of $12,000, with the first payment occurring 1 year from now. The annual interest rate is 3%. Option 1 Table Value Amount Present Value Loan amount $ Option 2 Table Value Amount Present Value Annual payments 0 Algoe expects to invest $1,900 annually for 15 years to yield an accumulated value of $51,588.99 on the date of the last investment. For this to occur, what rate of interest must Algoe earn? (PV of $1. FV of $1. PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Future Value Annuity Payment Table Factor Interest Rate 96
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