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UNO [17]
2 years ago
14

Cameron has decided to diversify his investments in the following way: $3,000 in an account earning 2. 7% simple interest $5,000

in a savings account earning 1. 8% interest compounded annually $5,000 in a certificate of deposit earning 3. 9% interest compounded quarterly How much total interest will Cameron earn on his investments at the end of 3 years? a. $530. 87 b. $665. 57 c. $973. 30 d. $1,135. 30 Please select the best answer from the choices provided A B C D.
Business
1 answer:
Rudiy272 years ago
8 0

His total interest after three years is $1,135. 30.

<h3>What is interest?</h3>

Interest refers to money that is received in an investment or a loan. It is always a percentage of the principal sum.

For the first investment;

I = PRT/100 = $3,000 × 2.7  × 3/100 = $243

For the second investment;

A = P(1 + r/n)^nt

A = 5000(1 + 0.018)^3

A = $5275

I = $5275 - $5000 = $275

For the third investment

A = 5,000(1 + 0.00975)^(4 × 3)

A = $5617

I = $5617 - $5,000 = $617

Total interest = $617 + $275 + $243 = $1,135. 30

Learn more about compound interest:brainly.com/question/25857212

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What is accountability
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Accountability is a promise that a person or a group will be judged on how they perform or behave in relation to anything for which they are accountable.

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5 0
2 years ago
On September 1, 2020, Windsor Company sold at 104 (plus accrued interest) 3,840 of its 8%, 10-year, $1,000 face value, nonconver
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Answer:

total sales value = 3,840 x $1,000 = $3,840,000 x 1.04 = $3,993,600

since each bond carried 2 detachable stock warrants, we must include in the bond issuance the value of the stock warrants = 3,840 bonds x 2 warrants x $2 per warrant = $15,360

the premium on bonds payable = total cash received - bonds payable - stock warrants = $3,993,600 - $3,840,000 - $15,360 = $138,240

the journal entry for recording the bond issuance:

September 1, 2020, 3,840 8% bonds issued

Dr Cash 3,993,600

    Cr Bonds payable 3,840,000

    Cr Premium on bonds payable 138,240

    Cr Additional paid in capital - warrants 15,360

5 0
3 years ago
A company issued a 20-year, $1,000 par value bond that pays semiannual interest of $40. If the semiannual market rate of interes
Kitty [74]

Answer: $828

Explanation:

Given the following :

Semi-annual payment = $40

Period = 20 years

Number of payments = (20 * 2)(semiannual) = 40 payments

Par value = $1000

Interest rate = 5%

Using the PV table:

PV at $1 (40, 5%) = 0.1420

PVA at $1 (40, 5%) = 17.159

[Par value * PV at $1 (40, 5%)] + [$40 * PVA at $1 (40, 5%)]

= ($1000 * 0.1420) + ($40 * 17.159)

= $142 + $686.36

=$828.36

= $826

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3 years ago
What were two most challenging educational experiences? Explain why they were challenging
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to me it would actually have to be college course math because im not really good at trigonometry

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