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 282 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
Wow, this really help

frankwu0507

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Ovulation Process The two ovaries alternate ovulation in each monthly cycle. Ovulation Process The two ovaries alternate ovulation in each monthly cycle.
How to calculate simple interest (Part 3) How to calculate simple interest (Part 3)
Mean Monthly Temperatures for Two Locations in Canada Mean Monthly Temperatures for Two Locations in Canada
What rate, compounded once every 3 years, is equivalent to 9% effective rate? What rate, compounded once every 3 years, is equivalent to 9% effective rate?
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 ...
Determine m​, ​n, and i for money invested at 3.6​% compounded semi-annually for 3.5 ... Determine m​, ​n, and i for money invested at 3.6​% compounded semi-annually for 3.5 ...
Video: Glycolysis - Introduction to ATP and the burning of sugar

For a complete list of videos, visit our video library