(FV) In 1880, five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorious outlaw Ned Kelly. One hundred and thirteen years later, the granddaughters of two of the trackers claimed that this reward had not been paid. If the interest rate over this period averaged about 4.5%, how much would the A$100 have accumulated to?

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Answer 1

Textbook Question

Chapter 2, Problem 1SQ

(FV) In 1880, five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorious outlaw Ned Kelly. One hundred and thirteen years later, the granddaughters of two of the trackers claimed that this reward had not been paid. If the interest rate over this period averaged about 4.5%, how much would the A$100 have accumulated to?

Expert Solution & Answer

Summary Introduction

To determine: The accumulated income of $100 at 4.5%.

Answer to Problem 1SQ

The accumulated income of $100 at 4.5% is $14,459.09.

Explanation of Solution

Determine the accumulated income

Using a excel spreadsheet and excel function =FV, the accumulated income is determined as $14,459.09.

Excel Spreadsheet:

PRIN.OF CORPORATE FINANCE >BI<, Chapter 2, Problem 1SQ

Therefore the accumulated income of $100 at 4.5% is $14,459.09.

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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%?

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…

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%?

Answer 2

Textbook Question

Chapter 2, Problem 1SQ

(FV) In 1880, five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorious outlaw Ned Kelly. One hundred and thirteen years later, the granddaughters of two of the trackers claimed that this reward had not been paid. If the interest rate over this period averaged about 4.5%, how much would the A$100 have accumulated to?

Expert Solution & Answer

Summary Introduction

To determine: The accumulated income of $100 at 4.5%.

Answer to Problem 1SQ

The accumulated income of $100 at 4.5% is $14,459.09.

Explanation of Solution

Determine the accumulated income

Using a excel spreadsheet and excel function =FV, the accumulated income is determined as $14,459.09.

Excel Spreadsheet:

PRIN.OF CORPORATE FINANCE >BI<, Chapter 2, Problem 1SQ

Therefore the accumulated income of $100 at 4.5% is $14,459.09.

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Answer 3

Textbook Question

Chapter 2, Problem 1SQ

(FV) In 1880, five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorious outlaw Ned Kelly. One hundred and thirteen years later, the granddaughters of two of the trackers claimed that this reward had not been paid. If the interest rate over this period averaged about 4.5%, how much would the A$100 have accumulated to?

Expert Solution & Answer

Summary Introduction

To determine: The accumulated income of $100 at 4.5%.

Answer to Problem 1SQ

The accumulated income of $100 at 4.5% is $14,459.09.

Explanation of Solution

Determine the accumulated income

Using a excel spreadsheet and excel function =FV, the accumulated income is determined as $14,459.09.

Excel Spreadsheet:

PRIN.OF CORPORATE FINANCE >BI<, Chapter 2, Problem 1SQ

Therefore the accumulated income of $100 at 4.5% is $14,459.09.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter 2, Problem 1SQ

(FV) In 1880, five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorious outlaw Ned Kelly. One hundred and thirteen years later, the granddaughters of two of the trackers claimed that this reward had not been paid. If the interest rate over this period averaged about 4.5%, how much would the A$100 have accumulated to?

Expert Solution & Answer

Summary Introduction

To determine: The accumulated income of $100 at 4.5%.

Answer to Problem 1SQ

The accumulated income of $100 at 4.5% is $14,459.09.

Explanation of Solution

Determine the accumulated income

Using a excel spreadsheet and excel function =FV, the accumulated income is determined as $14,459.09.

Excel Spreadsheet:

PRIN.OF CORPORATE FINANCE >BI<, Chapter 2, Problem 1SQ

Therefore the accumulated income of $100 at 4.5% is $14,459.09.

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Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

Summary Introduction

To determine: The accumulated income of $100 at 4.5%.

Answer to Problem 1SQ

The accumulated income of $100 at 4.5% is $14,459.09.

Explanation of Solution

Determine the accumulated income

Using a excel spreadsheet and excel function =FV, the accumulated income is determined as $14,459.09.

Excel Spreadsheet:

PRIN.OF CORPORATE FINANCE >BI<, Chapter 2, Problem 1SQ

Therefore the accumulated income of $100 at 4.5% is $14,459.09.

Answer 8

Expert Solution & Answer

Summary Introduction

To determine: The accumulated income of $100 at 4.5%.

Answer to Problem 1SQ

The accumulated income of $100 at 4.5% is $14,459.09.

Explanation of Solution

Determine the accumulated income

Using a excel spreadsheet and excel function =FV, the accumulated income is determined as $14,459.09.

Excel Spreadsheet:

PRIN.OF CORPORATE FINANCE >BI<, Chapter 2, Problem 1SQ

Therefore the accumulated income of $100 at 4.5% is $14,459.09.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Summary Introduction

To determine: The accumulated income of $100 at 4.5%.

Answer 12

Answer to Problem 1SQ

The accumulated income of $100 at 4.5% is $14,459.09.

Answer 13

Explanation of Solution

Determine the accumulated income

Using a excel spreadsheet and excel function =FV, the accumulated income is determined as $14,459.09.

Excel Spreadsheet:

PRIN.OF CORPORATE FINANCE >BI<, Chapter 2, Problem 1SQ

Therefore the accumulated income of $100 at 4.5% is $14,459.09.

Answer 14

Ch. 2 - (FV) In 1880, five aboriginal trackers were each...Ch. 2 - Prob. 2SQ Ch. 2 - (PV) Your company can lease a truck for 10,000 a...Ch. 2 - (RATE) Ford Motor stock was one of the victims of...Ch. 2 - Prob. 5SQ Ch. 2 - Prob. 6SQ Ch. 2 - Prob. 8SQ Ch. 2 - (NOMINAL) What monthly compounded interest rate...Ch. 2 - Future values If you invest 100 at an interest...Ch. 2 - Discount factors If the PV of 139 is 125, what is...

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