A bank manager wants to open account with $3500 with 3% interest rate. What must the principal be if the bank manager also wants
1 answer:
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Answer:
Step-by-step explanation:
11) Profit = Selling price - purchase price - other expenses
12) Profit = Selling price - purchase price - other expenses
(after rounding off)
13) Annual interest on bond
=INterest rate on face value of bond for 1 year
14)Cost of bond
= quoted value (rate)
=3500(80.5)
=2817.50
15) Cost of bond
= quoted value (rate)
=4250(83.5)
=3548.75