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mr Goodwill [35]
3 years ago
6

Your birthday is next week and instead of other presents, your parents promised to give you $2,100 in cash. Since you have a par

t-time job and, thus, don’t need the cash immediately, you decide to invest the money in a bank CD that pays 5.40 percent, compounded quarterly, for the next two years. How much money can you expect to earn in this period of time? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)
Business
1 answer:
Nat2105 [25]3 years ago
6 0

Answer:

FV= $2,765.30

Explanation:

Giving the following information:

Present Value (PV)= $2,100

Interest rate= 0.054/4= 0.0135

Number of periods= 2*4= 8 quarters

<u>To calculate the future value, we need to use the following formula:</u>

FV= PV*(1+i)^n

FV= 2,100*(1.0135^8)

FV= $2,765.30

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8 0
3 years ago
On September 1, 2020, Vaughn Manufacturing issued a note payable to National Bank in the amount of $1440000, bearing interest at
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Answer:

$28,800

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3 0
3 years ago
In a loan database, there are 66 loans to clients with 17 years of business experience. Also, there are 83 loans made to clients
lisabon 2012 [21]

Answer:

7 loans were made to clients with Graduate education who also had 17 years of experience

Explanation:

We have to solve for which is the intersection between the two groups.

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Then, we have 142 loans which are not part of both groups. Therefore, the difference are the loan count which do belong to both groups:

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4 0
3 years ago
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<span>A.impulse
Hope this helps.</span>
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