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Author Question: You invest $6780 in a floating rate guaranteed investment certificate. For the first 30 months you ... (Read 109 times)

Coya19@aol.com

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Question 1

Calculate the future value of $5000 if it is invested at an interest rate of 16% compounded quarterly for 5 years and 6 months.
◦ $11 049.59
◦ $5849.59
◦ $10 849.59
◦ $11 809.59
◦ $11 849.59

Question 2

You invest $6780 in a floating rate guaranteed investment certificate. For the first 30 months you earn 4.9% compounded semi-annually. For the next 8 months you earn 4.32% compounded monthly. What is the maturity value of the certificate?
◦ $7775.44
◦ $7785.44
◦ $7888.44
◦ $7875.44
◦ $7857.44


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Marked as best answer by Coya19@aol.com on Jun 6, 2019

pratush dev

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Coya19@aol.com

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Reply 2 on: Jun 6, 2019
Excellent


jojobee318

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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