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

Author Question: You invest $10 000 in a savings account that pays interest of 8% compounded monthly. What is the ... (Read 454 times)

jace

  • Hero Member
  • *****
  • Posts: 541
on: Jun 6, 2019

Question 1

An obligation of $5150.00 due in 2.5 years is to be settled by four equal payments due today, nine months from now, 21 months from now, and 27 months from now, respectively. What is the size of the equal payment at 8.88% p.a. compounded quarterly?

Question 2

You invest $10 000 in a savings account that pays interest of 8% compounded monthly. What is the value of your account after 14 months?
◦ $10 904.88
◦ $10 074.88
◦ $10 974.88
◦ $10 004.88
◦ $10 970.88
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 jace on Jun 6, 2019

akudia

  • Sr. Member
  • ****
  • Posts: 347
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 55% of students answer this correctly


jace

  • Member
  • Posts: 541
Reply 2 on: Jun 6, 2019
YES! Correct, THANKS for helping me on my review

coreycathey

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

The monthly changes of angle between the direction of illumination by the Sun and viewing from Earth The monthly changes of angle between the direction of illumination by the Sun and viewing from Earth
How to calculate simple interest (Part 1) How to calculate simple interest (Part 1)
What principal will earn $77.14 interest at 6.65% p. What principal will earn $77.14 interest at 6.65% p.
A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ... A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ...
A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ... A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ...
What amount was invested 35 years ago at 7% compounded semiannually if the value of the ... What amount was invested 35 years ago at 7% compounded semiannually if the value of the ...
Video: Parathyroid hormone (bone resorption) & Calcitonin (bone deposition)

For a complete list of videos, visit our video library