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Author Question: An 11-year $5000.00 promissory note, with interest at 4.4% compounded monthly, is discounted at 3.5% ... (Read 197 times)

rlane42

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Question 1

Musa's parents deposited $20,000 in a long-term savings account as a wedding expenditure for their grand daughter at her birth, expecting it to triple by the time she gets married. Calculate the number of years for money to triple at 5% p.a. compounded monthly.
◦ 25 years
◦ 30 years
◦ 18 years 7 months
◦ 22 years 6 months
◦ 22 years

Question 2

An 11-year $5000.00 promissory note, with interest at 4.4% compounded monthly, is discounted at 3.5% compounded semi-annually yielding proceeds of $7651.15. How many months before the due date was the date of discount?
◦ 116 months
◦ 132 months
◦ 76 months
◦ 47 months
◦ 20 months


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Marked as best answer by rlane42 on Jun 6, 2019

Athena23

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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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