Define the future value, Lynn Ally, owner of a local Subway

Define the future value

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Reference no: EM131531547

Lynn Ally, owner of a local Subway shop, loaned $61,000 to Pete Hall to help him open a Subway franchise. Pete plans to repay Lynn at the end of 9 years with 6% interest compounded semiannually.

How much will Lynn receive at the end of 9 years? (Do not round intermediate calculations. Round your answer to the nearest cent.)

Future value

Reference no: EM131531547

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Define the future value : Lynn Ally, owner of a local Subway shop, loaned $61,000 to Pete Hall to help him open a Subway franchise.

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