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EAR = (1 + periodic interest rate)^N - 1
<u>9.25 % Quarterly %</u>
EAR = 
= 0.09575 or 9.58%
<u>16.75 Monthly %
</u>
EAR = 
= 0.1809766 or 18.10%
<u>15.25 Daily %
</u>
EAR = 
= 0.1647053 or 16.47%
<u>11.25 Semiannually %</u>
EAR = 
= 0.115664 or 11.57%
Answer:
B) Subtract them from the bank balance.
Explanation:
When you are adjusting your bank statement you must subtract any outstanding checks and add any deposits in transit.
In this case, the checks that were written at the end of December will probably be cashed during the next months, but the company must adjust their bank balance because they know that the checks will eventually be cashed, sooner or later.
Answer: 92.7%
Explanation:
Due to the depreciation of the Dollar against the Pound, the foreign denominated deposit will have an even higher return.
Let's calculate that return.
= New Exchange rate - Former exchange rate / Former exchange rate
= 1.42142 - 1.23123 / 1.23123
= 0.15447
= 15. 4%
There is a gain of 15.4%.
In order to get the total dollar rate of return we add this just calculated return to the interest rate on pound which is 77%.
= 77 + 15.4
= 92.7%
In dollars then the return is 92.7%.
If you need any clarification please feel free to comment or react. This will help other users as well. Thank you.
