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 138 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?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

20,000 year old Arctic ground squirrel mummy 20,000 year old Arctic ground squirrel mummy
The Canadian ballot is considerably simpler than the American ballot. Note there is nothing like a c The Canadian ballot is considerably simpler than the American ballot. Note there is nothing like a c
For the 2-year-old, encounters with peers provide valuable practice in communication and social ... For the 2-year-old, encounters with peers provide valuable practice in communication and social ...
This 80-year old man in a village in Hubei, China, has slowed down, but he has not retired. He is ... This 80-year old man in a village in Hubei, China, has slowed down, but he has not retired. He is ...
Rola Inc. borrowed $42 000.00 at 7% compounded semi-annually. The loan is repaid by payments of ... Rola Inc. borrowed $42 000.00 at 7% compounded semi-annually. The loan is repaid by payments of ...
Kindergarten school year book Kindergarten school year book
Video: Control of ventilation rate by other brain centers (posts, hypothalamus & cerebral cortex)

For a complete list of videos, visit our video library