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

Author Question: If a loan was repaid by quarterly payments of $715.00 over 7 years at 8.36% compounded quarterly, ... (Read 232 times)

oliviahorn72

  • Hero Member
  • *****
  • Posts: 579
on: Jun 6, 2019

Question 1

A trust fund is set up to make payments of $1320.00 at the end of each month for seven years. Interest on the fund is 7.28% compounded monthly.
a) How much money must be deposited into the fund?
b) How much will be paid out of the fund?
c) How much interest is earned by the fund?

Question 2

If a loan was repaid by quarterly payments of $715.00 over 7 years at 8.36% compounded quarterly, how much money had been borrowed?
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 oliviahorn72 on Jun 6, 2019

deja

  • Sr. Member
  • ****
  • Posts: 332
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 56% of students answer this correctly


oliviahorn72

  • Hero Member
  • *****
  • Posts: 579
Reply #2 on: Jun 6, 2019
Thank you!


deja

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 6, 2019
Always glad to help...


« previous next »
 

Did you know?

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

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Astronomers identified 12-billion-year-old white dwarf stars only 100 light years away from Earth Astronomers identified 12-billion-year-old white dwarf stars only 100 light years away from Earth
Discipline-specific training can take years to perfect. Discipline-specific training can take years to perfect.
The declining age of menarche over the past 150 years has been measured in many European countries, The declining age of menarche over the past 150 years has been measured in many European countries,
Hong Kong is a strange situation. A British colony since 1842, it was handed back to China in 1997 a Hong Kong is a strange situation. A British colony since 1842, it was handed back to China in 1997 a
Pangaea 200 Million Years Ago Pangaea 200 Million Years Ago
Tracing numbers and alphabets by nat 3 years old Tracing numbers and alphabets by nat 3 years old
Video: Atrophy

For a complete list of videos, visit our video library