a What will be the maturity value of $15,000 placed in a 120 day term deposit paying an interest rate of 2 25 b If, on the maturity date, the combined principal and interest are rolled over into a 90 day term deposit paying 2 15 , what amount will the depositor receive when the second term deposit ...

a. What will be the maturity value of $15,000 placed in a 120-day term deposit paying an

Question:

a. What will be the value of $15,000 placed in a 120-day term deposit paying an interest rate of 2.25%?
b. If, on the date, the combined principal and interest are“ rolled over” into a 90-day term deposit paying 2.15%, what amount will the depositor receive when the second term deposit matures?
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...