This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: You invest $12 300 of your money in a locked-in savings account that earns 4.92% compounded monthly ... (Read 73 times)

APUS57

  • Hero Member
  • *****
  • Posts: 571
on: Jun 6, 2019

Question 1

A 9-month non-interest bearing promissory note is sold 2 months after it was issued. The face value of the note is $8500 and it is discounted at a rate of 5.2% compounded annually. What are the proceeds?
◦ $8525.33
◦ $8522.33
◦ $8252.33
◦ $8255.33
◦ $8552.33

Question 2

You invest $12 300 of your money in a locked-in savings account that earns 4.92% compounded monthly for 7 months. You have a family emergency and need to withdraw your funds 2 months early. You sell the savings account at a 5.6% compounded quarterly interest rate. How much did you sell the account for?
◦ $12 659.61
◦ $12 666.61
◦ $11 569.61
◦ $12 540.61
◦ $12 956.61
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by APUS57 on Jun 6, 2019

leahm14

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 55% of students answer this correctly


APUS57

  • Hero Member
  • *****
  • Posts: 571
Reply #2 on: Jun 6, 2019
Thanks


leahm14

  • Sr. Member
  • ****
  • Posts: 322
Reply #3 on: Jun 6, 2019
Welcome :)


« previous next »
 

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Enzymatic features of DNA polymerase that account for its inability to copy one of the DNA strands a Enzymatic features of DNA polymerase that account for its inability to copy one of the DNA strands a
Masaccio, The Tribute Money. Masaccio, The Tribute Money.
Stand over your base of support with the knees straight but not locked. Stand over your base of support with the knees straight but not locked.
Students and Money Students and Money
What is the phenotype for the female and male..This question is locked What is the phenotype for the female and male..This question is locked
A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ... A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ...
Video: Dietary Cholesterol & LDL

For a complete list of videos, visit our video library