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Author Question: Leo wishes to invest $8000.00 that he saved from his summer job. His bank offers 3.75% for a ... (Read 253 times)

Zulu123

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on: Jun 6, 2019

Question 1

What is the amount to which $7250.00 will grow at 7.75% p.a. in 3 months?

Question 2

Leo wishes to invest $8000.00 that he saved from his summer job. His bank offers 3.75% for a one-year term investment or 3.5% for a six-month term. Help Leo to investigate his options.
a) How much will Leo receive after one year if he invests at the one-year rate?
b) How much will Leo receive after one-year if he invests for six-months at a time at 3.5% each time?
c) What would the one-year rate have to be to yield the same amount of interest as the investment described in part b)?
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by Zulu123 on Jun 6, 2019

cici

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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.
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Zulu123

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Reply #2 on: Jun 6, 2019
Thank you!


cici

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Reply #3 on: Jun 6, 2019
Always glad to help...


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