John’s boat hire business generates
Question 1 John’s boat hire business generates $200,000 per annum for the next 10 years. Given an interest rate of 10% per year, would he be willing to sell the business today for $1,800,000? While Andy was a student at Albury University, he borrowed $25,000 in student loan at an annual interest rate of 7%. If he repays $2,000 per year, calculate the period required (to the nearest year) to pay off his debt. Benjamin receives a payment of $120,000 from his grandmother’s estate. The entire amount is invested today at an interest rate of 8% per year. He expects to receive 100 equal monthly payments from the investment; the first payment is expected in one year. Find the size of…
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