Josie invested $24,000 in a five-year regular-interest GIC earning 4% payable semiannually. What is each semiannual interest
Question:
Josie invested $24,000 in a five-year regular-interest GIC earning 4% payable semiannually. What is each semiannual interest payment?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
Given Semiannual inte...View the full answer
Answered By
Nyron Beeput
I am an active educator and professional tutor with substantial experience in Biology and General Science. The past two years I have been tutoring online intensively with high school and college students. I have been teaching for four years and this experience has helped me to hone skills such as patience, dedication and flexibility. I work at the pace of my students and ensure that they understand.
My method of using real life examples that my students can relate to has helped them grasp concepts more readily. I also help students learn how to apply their knowledge and they appreciate that very much.
4.00+
1+ Reviews
10+ 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
-
Krista invested $18,000 in a three-year regular-interest GIC earning 4.2% payable semiannually. What is each semiannual interest payment?
-
Term Bond Liabilities. Following are transaction data for a term bonds issue for the City of Nevin. Prepare all necessary entries for these transactions in the citys hinds, and governmental...
-
Multiple Choice Questions Items 1 through 4 require use of present value tables. The following are the present value factors of $1 discounted at 8% for one to five periods. Each item is based on 8%...
-
When component Auditors are involved in the audit of group financial statements the group Auditors are required to a. consider the independence and professional reputation of the component Auditors...
-
A frictionless piston-cylinder device contains 0.1 kg of refrigerant-12 as a saturated liquid. The piston is free to move, and its mass is such that it maintains a pressure of 200 kPa on the...
-
Your beginning salary is $68,000. You deposit 8% each year in a savings account that earns 3% interest. Your salary increases by 5% per year and inflation is 2.5% per year. What value does your...
-
Coteron, Sanchez, Martinez, and Aracil ("Optimization of the Synthesis of an Analogue of Jojoba Oil Using a Fully Central Composite Design," Canadian Journal of Chemical Engineering, 1993) studied...
-
Select a company you are interested in and obtain its annual reports by going to the companys website. Download the annual report for the most recent year. (On many companies websites, you will need...
-
demonstrate how four of the seven marketing mix elements the Premier Inn Hotel UK has used in the UK since 2019 reflect how it divides the market (Segmentation), who it is seeking to serve...
-
Look at the demand curve in Figure 6.2a. Use the midpoint formula and points a and b to calculate the elasticity of demand for that range of the demand curve. Do the same for the demand curves in...
-
Miguel was supposed to make three payments of $2000 eachthe first one year ago, the second one year from now, and the third three years from now. He missed the first payment and proposes to pay $3000...
-
Patrice defaulted on payments of $1000 due one year ago and $1500 due six months ago. A Small Claims Court orders her to make three payments-$800 one month from now, $900 four months from now, and a...
-
Min Co. is a publicly held company whose shares are traded in the over-the-counter market. The stockholders equity accounts at December 31, 2006 had the following balances: Preferred stock, $100 par...
-
Assume the firm is a monopolist: Demand for labor is VMP = 35 0.004E, supply of labor is w = 5 + 0.01E, and Marginal cost of hiring workers is MC = 5 + 0.02E a. How much labor does the firm hire and...
-
Use a graph to explain the impact of economics growth and decreased gender wage gap on the aggregate fertility rate.
-
2. Four forms of Planning- Based on your SWOT analysis, complete the table below by writing plans for each of the four forms. Assume you are part of the management board for the College. 1 tttt a) 1...
-
3. Graphically illustrate and explain what happens to consumer spending in response to an increase in consumer income.
-
Watch the videos below and write a complete anecdotal record for each. Remember that you don't need to write everything that happens in the entire video. 1. https://www.youtube.com/watch?v=CiFHzOjVal8
-
In its first year of existence (year 1), Willow Corp. (a C corporation) reported a loss for tax purposes of $30,000. In year 2 it reports a $40,000 loss. For year 3, it reports taxable income from...
-
Hardin Services Co. experienced the following events in 2016: 1. Provided services on account. 2. Collected cash for accounts receivable. 3. Attempted to collect an account and, when unsuccessful,...
-
Explain how the correlation coefficient can be used as a descriptive or an inferential statistic.
-
When we have a straight-line relation between two variables, we use a Pearson correlation coefficient. What does this coefficient describe?
-
What magnitude of a correlation coefficient is large enough to be considered important, or worth talking about?
-
. For each of these relations, write down all functional dependencies. If there are no functional dependencies among attributes, you must state so. Do not write down trivial functional dependencies,...
-
and b = 3. 7.3a=2*b 8.(5-a)*b <7 9.b
-
What diameter of vertical tube would allow mayonnaise (= 1,200 kg/m3) to flow under its own weight?
Study smarter with the SolutionInn App