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 132 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?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

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?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after
The term wasp is typically defined as any insect of the order Hymenoptera and suborder Apocrita that The term wasp is typically defined as any insect of the order Hymenoptera and suborder Apocrita that
1-16 The Sun’s Daily Path and the Energy It Deposits Here 1-16 The Sun’s Daily Path and the Energy It Deposits Here
A 5,000-year-old Egyptian garment A 5,000-year-old Egyptian garment
Choose the telephone unit that offers the features needed in your office. Choose the telephone unit that offers the features needed in your office.
What single payment one year from now would be economically equivalent to payments of $1,000 ... What single payment one year from now would be economically equivalent to payments of $1,000 ...
Video: Generalized life cycles for plants and animals Animation

For a complete list of videos, visit our video library