At what nominal rate of interest compounded semi-annually will $6900 earn $3000 interest in five years?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
PV 690000 FV 690000 300000 990000 n 10 C Y 2 990000 ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Question Posted:
Students also viewed these Finance questions
-
At what nominal rate of interest compounded semi-annually will a $162 000 variable rate mortgage be amortized by monthly payments of $1017.31 over 25 years?
-
What is the nominal rate of interest compounded semi-annually that is equivalent to an effective rate of 10.25%?
-
At what nominal rate of interest compounded monthly will $400 earn $100 interest in four years?
-
Sparkle is one firm of many in the market for toothpaste, which is in long-run equilibrium. a. Draw a diagram showing Sparkles demand curve, marginal-revenue curve, average total- cost curve, and...
-
A phone manufacturer wants to compete in the touch screen phone market. He understands that the lead product has a battery life of just 5 hours. The manufacturer claims that while the new touch phone...
-
Kilbourne Appliances produces two models of beverage coolers for homes and offices, the KA-15 and the KA-24. Data on operations and costs for March follow. Units produced Machine-hours Direct...
-
The expansion of steam in an impulse turbine occurs in _____.
-
Audit risk should be considered when planning and performing an audit of financial statements in accordance with generally accepted auditing standards. a. Define audit risk. b. Describe its...
-
The Tom Corp wants to know its cost of capital. Its current capital structure calls for 4 5 % debt, 1 5 % preferred stock and 4 0 % common equity. Initially, common stock will be in the form of...
-
Draw each of the following vectors, label an angle that specifies the vectors direction, then find its magnitude and direction. a. B(vector) = -4i + 4j b. r(vector) = (-2.0i - 1.0j) cm c. v(vector) =...
-
How many months from now can a payment of $1000 due 12 months ago and a payment of $400 due 6 months from now be settled by a payment of $1746.56 if interest is 10.2% compounded monthly?
-
In how many years will money double at 7.2% compounded quarterly?
-
The Kelly & Lena partnership has the following balances on June 30, 2012: Kelly and Lena share profits 2:3. Requirement 1. Journalize the sale of the noncash assets for $25,000, the payment of the...
-
1 Problem 4 - A firm's optimal output choice (10 points) Consider a price taking firm, where the market price for the output is given by P. The firm's output choice is denote by Q. The firm has a...
-
National health insurance refers to an insurance scheme that covers the entire population and is usually established by national registration. While available literature shows that utilization levels...
-
Westeros, Inc. receives scabbards (sheath for a sword) from two different suppliers. 70 percent of its scabbards come from Knights Watch, LLC, while 30 percent come from Crow, Inc. Records indicate...
-
(b) If the game below is repeated twice, the following strategies form an SPNE when = 1: Strategies Player 1 period 1: Play C period 2: Play B if (C,Y) in stage 1. Play A otherwise. Player 2 period...
-
1. Drug BB might move into red blood cells by simple diffusion through the lipid bilayer. Suppose that you place red blood cells (never before exposed to drug BB) and place them in a bathing solution...
-
Use the laws of exponents to compute the numbers. (6 1/2 ) 0
-
We all experience emotions, but some people disguise their true feelings better than others. Do you think this is a helpful or harmful thing to do? Under what conditions do you think it would be most...
-
Concon Corp. bought office equipment for $6,000. At the end of three years, its scrap value is $750. Use a double-declining rate to make a depreciation schedule. An asset cannot be depreciated below...
-
Make a depreciation schedule using a 150%-declining-balance for three years for furniture that costs $15,000 and has a salvage value of $500. Total cost: $15,000 Accumulated End-of-year depreciation...
-
Find the depreciation for each of the final two years for properly purchased for $113,984 and placed in service under the MACRS as a 15-year property.
-
According to the video "The Importance of Budgeting," budgeting is a crucial aspect of running a successful business as it helps administrators allocate resources effectively to meet their goals. It...
-
Managing finances is essential for any business, big or small. It involves careful planning and allocation of resources to achieve goals. Budgeting is crucial as it helps firms manage their cash...
-
Your boss (for 1 of the six organizations you have to choose from-Google, Walt Disney Company, Amazon, P&G, 3M, or Ford Motor Company) has asked you to represent the organization in an industry panel...
Study smarter with the SolutionInn App