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 258 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?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

The Moon's north pole during summer. The Moon's north pole during summer.
Example of Reconciling a Bank Statement Cont. Example of Reconciling a Bank Statement Cont.
Summer Studying Summer Studying
Number and label designations for oxygen sensors. Bank 1 is the bank where cylinder number 1 is ... Number and label designations for oxygen sensors. Bank 1 is the bank where cylinder number 1 is ...
Summer squash exhibiting various fruit-shape phenotypes, including disc, long, and sphere Summer squash exhibiting various fruit-shape phenotypes, including disc, long, and sphere
Mishu wants to invest an inheritance of $20,000 for one year. His credit union offers 8.85% for ... Mishu wants to invest an inheritance of $20,000 for one year. His credit union offers 8.85% for ...
Video: Lactation and Breast Feeding

For a complete list of videos, visit our video library