Help Save & Exit Submit Check my work 1. John Jamison wants to accumulate $69,965 for a down payment on a small business. He will invest $35,000 today in a bank account paying 8% interest compounded annually. Approximately how long will it take John to reach his goal 2. The Jasmine Tea Company purchased merchandise from a supplier for $39,210. Payment was a noninterest-bearing note requiring Jasmine to make six annual payments of $7000 beginning one year from the date of purchase. What is the interest rate implicit in this agreement? 3. Sam Robinson borrowed $21,000 from a friend and promised to pay the loan in 12 equal annual installments beginning one year form the date of the loan. Sam's friend would like to be reimbursed for the time value of money at a 9% annual rate, what is the annual payment Sam must make to pay back his friend? Complete this question by entering your answers in the tabs belovw Required 1 Required 2 Required 3 John Jamiso account paying 8% interest compounded annually. Approximately how long will it take John to reach his goal? (Do not round n wants to accumulate $ 69,965 for a down payment on a small business. He will invest $35,000 today in a bank intermediate calculations. Round your final answers to nearest whole dollar amount.) Present Value: n a 8% Future Value