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Author Question: You invest $12 300 of your money in a locked-in savings account that earns 4.92% compounded monthly ... (Read 161 times)

APUS57

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on: Jun 6, 2019

Question 1

A 9-month non-interest bearing promissory note is sold 2 months after it was issued. The face value of the note is $8500 and it is discounted at a rate of 5.2% compounded annually. What are the proceeds?
◦ $8525.33
◦ $8522.33
◦ $8252.33
◦ $8255.33
◦ $8552.33

Question 2

You invest $12 300 of your money in a locked-in savings account that earns 4.92% compounded monthly for 7 months. You have a family emergency and need to withdraw your funds 2 months early. You sell the savings account at a 5.6% compounded quarterly interest rate. How much did you sell the account for?
◦ $12 659.61
◦ $12 666.61
◦ $11 569.61
◦ $12 540.61
◦ $12 956.61
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by APUS57 on Jun 6, 2019

leahm14

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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.
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APUS57

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Reply #2 on: Jun 6, 2019
Thanks


leahm14

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Reply #3 on: Jun 6, 2019
Welcome :)


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