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

Author Question: Leo wishes to invest $8000.00 that he saved from his summer job. His bank offers 3.75% for a ... (Read 179 times)

Zulu123

  • Hero Member
  • *****
  • Posts: 525
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Zulu123 on Jun 6, 2019

cici

  • Sr. Member
  • ****
  • Posts: 325
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 44% of students answer this correctly


Zulu123

  • Hero Member
  • *****
  • Posts: 525
Reply #2 on: Jun 6, 2019
Thank you!


cici

  • Sr. Member
  • ****
  • Posts: 325
Reply #3 on: Jun 6, 2019
Always glad to help...


« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Illinois: Summer 1993 Illinois: Summer 1993
Summer and Winter Solstices Summer and Winter Solstices
Sam Feldt x Lucas & Steve feat. Wulf - Summer On You (Official Music Video) Sam Feldt x Lucas & Steve feat. Wulf - Summer On You (Official Music Video)
Nancy borrowed $8000 from her grandfather to buy a car when she started college. The interest ... Nancy borrowed $8000 from her grandfather to buy a car when she started college. The interest ...
Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ... Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ...
Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ... Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ...
Video: Magnetic resonance imaging (MRI)

For a complete list of videos, visit our video library