On a $1,000,000 principal, 91-day investment, what is the interest payable if we use an Actual/365 basis?
Question:
On a $1,000,000 principal, 91-day investment, what is the interest payable if we use an Actual/365 basis? What is the interest if the basis is Actual/360?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
The Actual365 convention uses the actual number of days divided by 3...View the full answer
Answered By
ZIPPORAH KISIO LUNGI
I have worked on several other sites for more than five years, and I always handle clients work with due diligence and professionalism. Am versed with adequate experience in the fields mentioned above in which have delivered quality papers in research, thesis, essays, blog articles, and so forth.
I have gained extensive experience in assisting students to acquire top grades in biological, business and IT papers. Notwithstanding that, I have 7+ years of experience in corporate world software design and development.
5.00+
194+ Reviews
341+ Question Solved
Related Book For
Question Posted:
Students also viewed these Engineering questions
-
Findell Company specializes in producing clothing and textiles. In August, 2021, the company was hit hard by a fire that broke out from the factory. All inventories held in the warehouse and factory...
-
1. Complete the following sentences with the most appropriate term or phrase: a. Firms raise capital by selling newly issued securities in the ______________markets, while Existing, already...
-
One Product Corp. (OPC) incorporated at the beginning of last year. The balances on its post-closing trial balance prepared on December 31, at the end of its first year of operations, were: The...
-
You work for a gas turbine design company and have a client who has a fairly loose specification for a gas turbine engine. You are required to design an aviation gas turbine to power the aircraft...
-
An electron in the n = 2 state in the finite potential well of figure absorbs 400eV of energy from an external source. Using the energy-level diagram of figure, determine the electron's kinetic...
-
A piece of property is purchased for $10,000 and yields a $1000 yearly net profit. The property is sold after 5 years. What is its minimum price to breakeven with interest at 1O%?
-
Discuss how, in choosing the accounting methods below, the following ratios can be affected return on assets, quick ratio, profit margin, asset turnover: (a) a change in accounting method for...
-
During 2011 the following selected transactions affecting stockholders equity occurred for TARP Corporation: a. Feb. 1 Purchased in the open market 160 shares of the companys own common stock at $20...
-
Let F(x) = f(f(x)) and G(x) = (F(x)). You also know that f(4) = 13, f(13) = 2, f'(13) = 7, f'(4) = 10 Find F'(4) = and G'(4) =
-
If the six-month interest rate is 6% and the one-year interest rate is 8%, what is the rate for an FRA over the period from six months to one year? Assume that the number of days up to six months is...
-
Explain the principles involved in duration-based hedging. How does the computation of the hedge ratio here differ from that of the minimum-variance hedge computation?
-
Nylon 6 is a polyamide used in the manufacture of ropes. It can be prepared via hydrolysis of ε caprolactam to form ε-aminocaproic acid followed by acid-catalyzed...
-
(a) The system response depends on present, past, and future inputs. Hence, it is dynamic. (b) Since the output depends on the future input, it is non-causal. (c) The output due to the delayed input...
-
The ledger of Rios Company contains the following balances: Retained Earnings $30,000, Dividends $2,000, Service Revenue $50,000, Salaries and Wages Expense $27,000, and Supplies Expense $7,000....
-
Explain why system is tested for impulse and step inputs.
-
The following data are taken from the comparative balance sheets of Cascade Billiards Club, which prepares its financial statements using the accrual basis of accounting. Members are billed based...
-
A triangular pulse signal \(x(t)\) is shown in Fig. 1.77a. Sketch the following signals. (a) \(x(4 t)\); (b) \(x(4 t+3)\); (c) \(x(-3 t+2)\); (d) \(x\left(\frac{t}{3}+2ight)\); (e) \(x(3 t-2)\); (f)...
-
Explain the difference in intended application between strategic pricing and life-cycle costing.
-
The purpose of this case is to come up with a contingency plan[s] in order to sustain the program Move With Me, a program that serves thousands of community members throughout Lower Manhattan. The...
-
A thousand dollars is invested for 7 months at interest rate of 1% per month. What is the nominal interest rate? What is the effective interest rate?
-
What interest rate, compounded quarterly, is equivalent to a 9.31% effective interest rate?
-
If the nominal annual interest rate is 12% com pounded quarterly, what is the effective annual interest rate?
-
Lim receives a car from his employer as part of his employment package. Use the following details to determine the amount of FBT the employer would pay (if any) for providing the car for the 2023 FBT...
-
February 26 The company paid cash to Lyn Addie for eight days' work at $120 per day. March 25 The company sold merchandise with a $2,400 cost for $3,200 on credit to Wildcat Services, invoice dated...
-
What cultures are against having a strong work ethic environment like Japan & china. Cultures that view hard working diligence 24/7 as a "necessary evil?
Study smarter with the SolutionInn App