1- Lou Lewis borrows $13,000 to be repaid over 10 years at 9 percent....
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Finance
1-
Lou Lewis borrows $13,000 to be repaid over 10 years at 9 percent. Repayment of principal in the first year is: Use Appendix D to calculate the answer. (Round your intermediate calculations to the nearest dollar value.)
$1,083
$2,026
$940
$856
2-
Mr. Blochirt is creating a college investment fund for his daughter. He will put in $26,000 per year for the next 15 years and expects to earn a 10% annual rate of return. How much money will his daughter have when she starts college? Use Appendix C to calculate the answer.
$815,059
826,799
$814,046
$826,072
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