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

Author Question: An 11-year $5000.00 promissory note, with interest at 4.4% compounded monthly, is discounted at 3.5% ... (Read 92 times)

rlane42

  • Hero Member
  • *****
  • Posts: 594
on: Jun 6, 2019

Question 1

Musa's parents deposited $20,000 in a long-term savings account as a wedding expenditure for their grand daughter at her birth, expecting it to triple by the time she gets married. Calculate the number of years for money to triple at 5% p.a. compounded monthly.
◦ 25 years
◦ 30 years
◦ 18 years 7 months
◦ 22 years 6 months
◦ 22 years

Question 2

An 11-year $5000.00 promissory note, with interest at 4.4% compounded monthly, is discounted at 3.5% compounded semi-annually yielding proceeds of $7651.15. How many months before the due date was the date of discount?
◦ 116 months
◦ 132 months
◦ 76 months
◦ 47 months
◦ 20 months
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 rlane42 on Jun 6, 2019

Athena23

  • Sr. Member
  • ****
  • Posts: 305
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 25% of students answer this correctly


rlane42

  • Hero Member
  • *****
  • Posts: 594
Reply #2 on: Jun 6, 2019
TY


Athena23

  • Sr. Member
  • ****
  • Posts: 305
Reply #3 on: Jun 6, 2019
You're welcome


« previous next »
 

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Transverse Breaks the shaft of a bone across its longitudinal axis; the break is in the fibula, the Transverse Breaks the shaft of a bone across its longitudinal axis; the break is in the fibula, the
Model of a sequential study in which two cohorts were followed beginning at age 20. One cohort was f Model of a sequential study in which two cohorts were followed beginning at age 20. One cohort was f
Political parties vs interest groups Political parties vs interest groups
U.S. Life Expectancy by Year of Birth U.S. Life Expectancy by Year of Birth
Summary of SOAP Note Content Cont. Summary of SOAP Note Content Cont.
How to calculate monthly payments at varying amortization periods (Question 2) How to calculate monthly payments at varying amortization periods (Question 2)
Video: Fractures Animation

For a complete list of videos, visit our video library