In 1880, five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorio outlaw Ned Kelley. In 1996, the granddaughters of two of the trackers claimed that this reward had not been paid. The Victoria minister stated that if this was true, the government would be happy to pay the $100. However, the granddaughters also claim they were entitled to compound interest. a. How much was each granddaughter entitled to if the interest rate was 3% ? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Future value Answer is complete but not entirely correct. 3,370.00 Australian dollars b. How much was each entitled to if the interest rate was 6%? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Future value Answer is complete but not entirely correct. Australian dollars 102,659.22

In 1880, five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorio outlaw Ned Kelley. In 1996, the granddaughters of two of the trackers claimed that this reward had not been paid. The Victoria minister stated that if this was true, the government would be happy to pay the $100. However, the granddaughters also claim they were entitled to compound interest. a. How much was each granddaughter entitled to if the interest rate was 3% ? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Future value Answer is complete but not entirely correct. 3,370.00 Australian dollars b. How much was each entitled to if the interest rate was 6%? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Future value Answer is complete but not entirely correct. Australian dollars 102,659.22

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter7: Deductions And Losses: Certain Business Expenses And Losses

Section: Chapter Questions

Problem 22CE

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In 1880 five aboriginal trackers were each promised the equivalent of 100Australian dollars for helping to capture the notorious outlaw Ned Kelley. In2001 the granddaughters of two of the trackers claimed that this reward hadnot been paid. The Victorian prime minister stated that if this was true, thegovernment would be happy to pay the $100. However, the granddaughtersalso claimed that they were entitled to compound interest. a. How much was each granddaughter entitled to if the interest rate was3%? (Do not round intermediate calculations. Round your answer to 2decimal places.) b. How much was each entitled to if the interest rate was 6%? (Do not roundintermediate calculations. Round your answer to 2 decimal places.)
In 1880 five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorious outlaw Ned Kelly. In 1998 the granddaughters of two of the trackers claimed that this reward had not been paid. The Victorian prime minister stated that if this was true, the government would be happy to pay the $100. However, the granddaughters also claimed that they were entitled to compound interest. How much was each granddaughter entitled to if the interest rate was 3%?
In1880 five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorious outlaw Ned Kelly. In 1998 the granddaughters of two of the trackers claimed that this reward had not been paid. The Victorian prime minister agreed to pay the $100. However, the granddaughters also claimed that they were entitled to compound interest. How much was each entitled to if the interest rate was 6%?
n 1880 five aboriginal trackers were each promised the equivalent of 50 Australian dollars for helping to capture the notorious outlaw Ned Kelley. In 2003 the granddaughters of two of the trackers claimed that this reward had not been paid. The Victorian prime minister stated that if this was true, the government would be happy to pay the $50. However, the granddaughters also claimed that they were entitled to compound interest. a. How much was each granddaughter entitled to if the interest rate was 4%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. How much was each entitled to if the interest rate was 8%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) n 1880 five aboriginal trackers were each promised the equivalent of 50 Australian dollars for helping to capture the notorious outlaw Ned Kelley. In 2003 the granddaughters of two of the trackers claimed that this reward had not been paid. The…
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