Sabrina invested $7200 three years ago, and an additional $2300 one year ago. Her investments have earned

Question:

Sabrina invested $7200 three years ago, and an additional $2300 one year ago. Her investments have earned 3.5% compounded quarterly for the whole time.

a. How much are Sabrina's investments worth today?

b. How much interest has she earned altogether?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

See More Books

Question Posted: Oct 21, 2020 05:43 AM

See More Questions

Precision Machining Corporation has been growing steadily over the past decade. Demand for the companys products continues to rise, so management has decided to expand the production facility;...
1. As the beneficiary of a life insurance policy, you have two options for receiving the insurance proceeds. You can receive a lump sum of $200,000 today or receive payments of $4,000 every quarter...
The Lexington Property Development Company has a $10,000 note receivable from a customer due in three years. How much is the note worth today if the interest rate is a. 9%? b. 12% compounded monthly?...
Smart Sets manufactures headphone cases. During September 2016, the company produced 108,000 cases and recorded the following cost data: Requirements 1. Compute the cost and efficiency variances for...
A half kg bar of iron, initially at 782oC, is removed from an oven and quenched by immersing it in a closed tank containing 10 kg of water initially at 21oC. Heat transfer from the tank can be...
Kates Candy Co. makes chewy chocolate candies at a plant in Winston-Salem, North Carolina. Steve Bishop, the production manager at this facility, installed a packaging machine last year at a cost of...
Innovative Computers Pty Ltd produces laptops. Each laptop contains a rechargeable battery and LCD screen. Batteries and screens are purchased from an outside supplier for $$192$ and $$300$ each,...
From the following partial mixed list, select the appropriate titles and prepare a stockholders equity section using the source-of-capital approach as shown in the Blueprint example for Ununoctium...
Examine the role of Global Supply Chains and the related risks and opportunities in context to international business. Can residents live and work at the same place a tourist seeks enrichment,...
In use on a typical human nose, the end-to-end distance is measured to be 30 mm. What force does the strip exert on the nasal passages in this situation? A. 0.23 N B. 0.69 N C. 9.0 N D. 2 N
A $1000-face-value compound-interest Series S126 Canada Savings Bond was redeemed on March 14, 2016. What amount did the bond's owner receive? (Obtain the issue date and the interest rates paid on...
Mr. and Mrs. Rasuli would like to retire in 15 years at an annual income level that would be equivalent to $65,000 today. What is their retirement income goal if, in the meantime, the annual rate of...
Determine the force in members DC, HI, and JI of the truss and state if the members are in tension or compression. Suggestion: Use the sections shown. G T 6 ft 6 ft 12 ft ----|-6 ft-|-6 ft-|-- F -9...
Tabitha and Oscar both owned very fancy guitars worth $25,000, that is, until both guitars were stolen by a serial guitar burglar. Both have homeowner's insurance and made claims on the theft. Yet...
Farr Industries Inc. manufactures only one product. For the year ended December 31, the contribution margin increased by $47.410 from the planned level of $1,323,600. The president of Farr Industries...
5. Vehicle crumple zones are designed to absorb energy during an impact by deforming to reduce transfer of energy to occupants. How much kinetic energy, in Btu, must a crumple zone absorb to fully...
What are m and b in the linear equation 2 + 3x + 5 - 2x = y
Complete common -size statements (balance sheets) using the data below. You will be required to create a spreadsheet in MS Excel to display the statements (balance sheets).? compare and contrast the...
Terry Wade, the new controller of Hellickson Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2019. His findings are as follows....
Linda Lopez opened a beauty studio, Lindas Salon, on January 2, 2011. The salon also sells beauty supplies. In January 2012, Lopez realized she had never filed any tax reports for her business and...
Household has declared bankruptcy in the previous 5 years (BNKRUPTLAST5: 0 = No, 1 = Yes). Examine whether there are differences between the middle-class men and women with respect to several...
Household has been turned down for credit in the previous 5 years (TURNDOWN: 0 = No, 1 = Yes). Examine whether there are differences between the middle-class men and women with respect to several...
Household overall expenses over last 12 months (EXPENSHILO: 1 = Unusually high, 2 = Unusually low, 3 = Normal). Examine whether there are differences between the middle-class men and women with...
MM Corp. has 50,000 shares outstanding with share price of $18. It has debt with market value of $300,000. The equity beta is 1.2 and debt beta is 0.1. The risk-free rate is 2% and the market risk...
The market is expected to return 15 percent next year and the risk-free rate is 7 percent. What is the expected rate of return on a stock with a beta of 1.3? The covariance of the market's returns...
A stock's current price is 145.05. A put option with an exercise price of 120 and maturity of 3 months is currently priced at $ 28.83. What is the option's time value?

Sabrina invested $7200 three years ago, and an additional $2300 one year ago. Her investments have earned

Question:

Step by Step Answer:

a i 354 0875 The first deposit is PV 7200 and has been on deposit for n 43 12 The second depo...View the full answer

Fundamentals Of Business Mathematics In Canada

Students also viewed these Mathematics questions