If money is worth 3.6% compounded quarterly, how long (to the nearest day) before a scheduled payment
Question:
If money is worth 3.6% compounded quarterly, how long (to the nearest day) before a scheduled payment of $6000 will $5000 be an equivalent payment? For the purpose of determining the number of days in a partial calendar quarter, assume that a full quarter has 91 days.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (7 reviews)
The number of calendar quarters over which 6000 must be discounted to have ...View the full answer
Answered By
Mishark muli
Having any assignments and any other research related work? worry less for I am ready to help you with any task. I am quality oriented and dedicated always to produce good and presentable work for the client once he/she entrusts me with their work. i guarantee also non plagiarized work and well researched work to give you straight As in all your units.Feel free to consult me for any help and you will never regret
4.70+
11+ Reviews
37+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
If money is worth 8% compounded quarterly, how long (to the nearest day) before a scheduled payment of $6000 will $5000 be an equivalent payment? For the purpose of determining the number of days in...
-
A payment of $1300 is scheduled for a date 3 years from now. What would be an equivalent payment 9 months from now, if money is worth 5.5% compounded quarterly?
-
Rounded to the nearest month, how long before a scheduled payment of $10,000 would a payment of $5000 be an economically equivalent alternative? Assume money is worth 5% compounded annually.
-
Figlio (1999) found that legislators are more likely to mirror their constituents preferences during election years than in earlier years of their terms. This is particularly true for relatively...
-
Carnot cycle running on a closed system has 1.5 kg of air. The temperature limits are 300 K and 1000 K, and the pressure limits are 20 kPa and 1900 kPa. Determine (a) The efficiency and (b) The net...
-
Factor the trinomial. x 2 + 5x + 6
-
The composite bar consists of a 20-mm-diameter A-36 steel segment AB and 50-mm-diameter red brass C83400 end segments DA and CB. Determine the displacement of A with respect to B due to the applied...
-
On January 1, 2014, Leo paid $15,000 for 5 percent of the stock in BLS, an S corporation. In November, he loaned $8,000 to BLS in return for a promissory note. BLS generated a $600,000 operating loss...
-
An aerobatic airplane pilot experiences weightlessness as she passes over the top of a loop-the-loop maneuver. The acceleration of gravity is 7.8 m/s 2 . If her speed is 470 m/s at this time, find...
-
Clare Jaccard has $5,000 to invest. Because she is only 25 years old, she is not concerned about the length of the investments life. What she is sensitive to is the rate of return she will earn on...
-
Belleville Credit Union has established interest rates on its three-year GICs so that the effective rate of interest is 2.6% on all three compounding options. What are the monthly, semiannually, and...
-
The Consumer Price Index (based on a value of 100 in 2002) rose from 78.4 in 1990 to 95.4 in 2000. What was the (equivalent) annual rate of inflation in the decade of the 1990s?
-
Describe the process of advance refunding of the federal debt.
-
Question 25 of 40 Jai asks four experts to independently estimate how long a task will take. She then shares the estimates with the group and asks everyone to re-estimate. What estimating technique...
-
Return on Investment (ROI): 15% Payback Period: 3 years Net Present Value (NPV): R50,000 Internal Rate of Return (IRR): 12% Cash Flows: Year 1: R20 000 Year 2: R30 000 Year 3: R40 000 1.4 Calculate...
-
Use marketing strategies to raise sales Cut labor costs to lower expenses Raise prices to raise profits Cut food costs to lower expenses. What should a manager do when revenue consistently falls...
-
Merrill Lynch had a written policy that required its employees to hold client information in strict confidence. What instruction did Peter Bacanovic give Douglas Faneuil on the morning of December...
-
Britta utilizes multiple independent contractors in her drywall construction business; one of them neglects to provide her with the appropriate TIN. Accordingly, Britta must take backup income tax...
-
On January 1, 2019, Goodhue Inc. had the following stockholders' equity balances. Common Stock (400,000 shares issued)...................................$800,000 Paid-in Capital in Excess of...
-
TRUE OR FALSE: 1. Banks with a significantly large share of fixed-interest rate home loans are less exposed to interest rate risks. 2. Although Australian banks are pretty big, they are not...
-
Has the amount of television American adults watch been constant over the years 2006, 2008, 2010, 2012, and 2014 or has the amount varied. Test to determine whether the number of hours of television...
-
Has educational levels kept uniform over the years 2006, 2008, 2010, 2012, and 2014? Conduct a test to determine whether the number of years of education (EDUC) differs in the 8-year period.
-
Should government do more or less to solve countrys problems (HELPNOT: 1 = Government should do more; 2, 3, 4, 5 = Government does too much)?
-
Convert the following ERDs to a Database schema. Follow all the steps in order as learned in this class. Identify PKs and FKs for each relation. Explain your work. Press esc to exit full screen Page...
-
How to draw a database in MS SQL Server for an entity with only a multivalued attribute and no primary key?
-
use Adventure Works Database Run each query and save the notebook with the results before submitting it. All the questions below are related to AdventureWorks database. make sure your notebook is...
Study smarter with the SolutionInn App