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3 years ago

Find the compound interest on $2,500 at .75% interest compounded daily by the Leader Financial Bank for 20 days.

Business

1 answer:

katrin [286]3 years ago

7 0

Answer:

Interest= $402.96

Explanation:

Giving the following information:

Initial investment (PV)= $2,500

Interest rate (i)= 0.0075

Number of periods (n)= 20 days

To calculate the interest earned after 20 days, we need to use the following formula:

Interest= PV*(1 + i)^n - PV

Interest= 2,500*(1.0075^20) - 2,500

Interest= $402.96

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4 years ago

If the purchase and sale of a currently illegal drug (for example, marijuana) were decriminalized, economists would expect:

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A. An increase in demand and supply of this drug.

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4 years ago

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The formula is
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4 years ago

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Angelina_Jolie [31]

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4 years ago

Which of the following statements is CORRECT?a. If CF0 is positive and all the other CFs are negative, then you can still solve

Romashka-Z-Leto [24]

Answer:

If CF0 is positive and all the other CFs are negative, then you can still solve for I

TRUE. This will be the formula for ordinary annuity.

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

This is the case of a loan on which the company receives a positive cash flow at the beginning and then makes subsequent cash payments, thus negatives cash flows.

Explanation:

If you have a series of cash flows, and CF0 is negative but each of the following CFs is positive, you can solve for I, but only if the sum of the undiscounted cash flows exceeds the cost

FALSE If the sum is below the cost then it will give a negative rate

To solve for I, one must identify the value of I that causes the PV of the positive CFs to equal the absolute value of the FV of the negative CFs. FALSE you can't compare a present value with a future as they are on different dates.

It is impossible to find the value of I without a computer or financial calculator.

FALSE There are method of approximation the difference is that the computer does this faster than humans.

If you solve for I and get a negative number, then you must have made a mistake

FALSE if the project return are lower than cost the rate will be negative.

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3 years ago