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How much will lynn receive at the end of 9 years

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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.)

Reference no: EM131972062

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