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

Author Question: RBC offers three-year term deposits at 3.125% compounded annually while Meridian credit union offers ... (Read 93 times)

Caiter2013

  • Hero Member
  • *****
  • Posts: 607
on: Jun 6, 2019

Question 1

An investment of $30 325 is accumulated at 9.45% compounded quarterly for nine and one-half years. At that time the interest rate is changed to 9.45% compounded monthly. How much is the investment worth two years after the change in interest rate?
◦ $73646.89
◦ $49319.03
◦ $88902.62
◦ $88773.12
◦ $89520.33

Question 2

RBC offers three-year term deposits at 3.125% compounded annually while Meridian credit union offers such deposits at 3.05% compounded quarterly. If you invest $23 000 at RBC and the same amount at Meridian, what is the maturity value of your deposit at each bank?
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 Caiter2013 on Jun 6, 2019

akemokai

  • 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 49% of students answer this correctly


Caiter2013

  • Hero Member
  • *****
  • Posts: 607
Reply #2 on: Jun 6, 2019
TY


akemokai

  • Sr. Member
  • ****
  • Posts: 347
Reply #3 on: Jun 6, 2019
You're welcome


« previous next »
 

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

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?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Associative Long-Term Potentiation Associative Long-Term Potentiation
Growth of Dendritic Spines After Long-Term Potentiation Growth of Dendritic Spines After Long-Term Potentiation
The medical assisting profession offers many settings in which to pursue your career. Good communica The medical assisting profession offers many settings in which to pursue your career. Good communica
How to calculate regular payments or deposits using the annuity formula (Question 2) How to calculate regular payments or deposits using the annuity formula (Question 2)
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
A promissory note has a face value of $6000 and it has a date of issue of June 1 this year. The ... A promissory note has a face value of $6000 and it has a date of issue of June 1 this year. The ...
Video: Blood Test Basics

For a complete list of videos, visit our video library