$5000 invested in a GIC earning 3.7% compounded semiannually matured at $5789.73. What was the term of...
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 88% (9 reviews)
Given PV 5000 FV 578973 j 37 m 2 Term of th...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Determine the amount that must be deposited now at compound interest to provide the desired sum for each of the following: 1. Amount to be invested for 10 years at 6% per annum, compounded...
-
A credit unions Rate-Climber GIC pays rates of 4%, 5%, and 6% compounded semiannually in successive years of a three-year term. a. What will be the maturity value of $12,000 invested in this GIC? b....
-
A few years ago Avtar invested $6000 in a compound-interest GIC that earned 4.5% compounded semiannually. He recently received the maturity value of $7168.99. What was the term of the GIC?
-
Racing Investment Fund 2000 LLC was created in August 2000 to purchase, train, and race thoroughbred horses. The LLC ' s operating agreement provided for 50 membership units to be sold for an initial...
-
Peabody Company owns 90% of the outstanding capital stock of Sloane Company. During 2011 and 2012 Sloane Company sold merchandise to Peabody Company at a markup of 25% of selling price. The selling...
-
Can it be ethically justified for a manufacturer to sell a product with a warranty less than the law requires?
-
Explain how an auditor might acquire evidence about each of the follow- ing transactions: (i) Equipment Cash 3,000 3,000 (ii) Equipment 4,000 Creditors 4,000 (iii) Depreciation expense 2,000...
-
The balance sheet and income statement for Chico Electronics are reproduced below (tax rate is 40%). Required: Compute and interpret the following financial ratios of the company for Year 5: a....
-
Sarah Custard's is a pie shop that specializes in custard and fruit pies. It makes delicious pies, and sells them at reasonable prices so that it can sell all the pies it makes in a day. Every dozen...
-
Consider the following traffic flow diagram, where a1, a2, a3, a4, b1, b2, b3, b4 are fixed positive integers. Set up a linear system in the unknowns x1, x2, x3, x4 and show that the system will be...
-
How long did it take $4625 earning 7.875% compounded annually to grow to $8481.61?
-
The current balance on a loan is $3837.30. If the interest rate on the loan is 10% compounded monthly, how long ago was the $2870 loan made?
-
In Exercises evaluate the definite integral. Use a graphing utility to confirm your result. So ex sin x dx
-
Explain three consequences of deflation.
-
Explain three different, market-based, supply-side policies.
-
For years, observers and analysts of the debt market believed that municipal securities were free of any risk of default. Why do most people now believe that municipal debt can carry a substantial...
-
Explain three potential benefits from international trade.
-
Explain two factors that limit the effectiveness of the World Trade Organization in achieving its objectives.
-
You have recently been hired as an internal analyst at Hone Inc., reporting directly to the owner. The owner has requested you compare the operations and financial position of Hone Inc. with Poot...
-
Suppose that the laptop of Prob. 2.16 is placed in an insulating briefcase with a fully charged battery, but it does not go into sleep mode, and the battery discharges as if the laptop were in use....
-
A pump is required for 10 years at a remote location. The pump can be driven by an electric motor if a power line is extended to the site. Otherwise, a gasoline engine will be used. Use an annual...
-
The town of Dry Gulch needs an additional supply of water from Pine Creek. The town engineer has selected two plans for comparison: a gravity plan (divert water at a point 10 miles up Pine Creek and...
-
Uncle Elmo needs to replace the family privy. The local sanitary engineering firm has submitted two alternative structural proposals with respective cost estimates as shown. Which construction should...
-
Image transcription text 1. A cylindrical specimen of cold-worked copper (see Fig. below) has experienced a ductility of 25%EL. If its cold worked radius is 10 mm, what was its radius before...
-
Question 2 As a project manager, you need to synthesize information about a problem to stakeholders. What should you do first in your synthesizing process? Describe Briefly.
-
Please help me as much as you can!! I will take all your effort to solve this problem and will give you a good rate!!! Please show all the calculations in detail! Also, please do not copied and...
Study smarter with the SolutionInn App