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 236 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?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Checklist of Developmental Skills: Birth to 5 years Cont. Checklist of Developmental Skills: Birth to 5 years Cont.
Women who reported one, two, or three or more major life events in the past 5 years were ... Women who reported one, two, or three or more major life events in the past 5 years were ...
The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007). The human eye, a product of 600 million years of evolution (Lamb, Collin, & Pugh, 2007).
How to calculate mortgage payments (Question 1 of 2) How to calculate mortgage payments (Question 1 of 2)
Earth’s Oldest Preserved Rocks – 3.8 Billion Years Old, Greenland Earth’s Oldest Preserved Rocks – 3.8 Billion Years Old, Greenland
Three years old drawing Three years old drawing
Video: Dorsal Recumbent Position

For a complete list of videos, visit our video library