Lynn Ally, owner of a local Subway shop, loaned $45,000 to Pete Hall to help him open

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Lynn Ally, owner of a local Subway shop, loaned $45,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn at the end of 6 years with 12% interest compounded semiannually.

How much will Lynn receive at the end of 6 years? (Do not round intermediate calculations. Round your answer to the nearest cent.)

Related Book For answer-question

Fundamentals of Financial Accounting

ISBN: 978-0078025914

5th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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Posted Date: May 31, 2022 07:02 AM

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Lynn Ally, owner of a local Subway shop, loaned $45,000 to Pete Hall to help him open

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WORKING NOTES Par Value of loan Rate of interest Hal... View the full answer

Fundamentals of Financial Accounting

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