Question: How much did Speedy Movers borrow for a debt that accumulated to $55,360.74 in three years? The interest rate was 4.56% compounded semi-annually. $0.00 Round

How much did Speedy Movers borrow for a debt that accumulated to $55,360.74 in three years? The interest rate was 4.56% compounded semi-annually.

$0.00 Round to the nearest cent

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

1. An investment of $14,000 was growing at 4.25% compounded semi-annually. a. Calculate the accumulated value of this investment at the end of year 1. Round to the nearest cent b. If the interest...

Q:

1. How long will it take for an investment to double at a simple interest rate of 2.60% p.a.? years months Express the answer in years and months, rounded up to the next month 2. How much did Speedy...

Q:

Question 6 of 8 How much did Speedy Movers borrow for a debt that accumulated to $56,153.48 in three years? The interest rate was 4.11% compounded semi-annually. $0.00 Round to the nearest cent...

Q:

The interest rate on a GIC is 4.50% compounded quarterly. What is the purchase price of the GIC if its maturity value in 3 years and 6 months is $34,802? Round to the nearest cent How much did Speedy...

Q:

How much did Speedy Movers borrow for a debt that accumulated to $57,222.53 in three years? The interest rate was 4.25% compounded quarterly. Round to the nearest cent Erik invested his savings into...

Q:

LAB 7 1) Meadow Company wants to invest its net profits of $84,000 for 6 years in either a credit union or a local bank. The credit union provides interest of 10.71% compounded monthly, while the...

Q:

1.Your bank offers you a personal loan of $14,000.00 at an interest rate of 5.77% compounded monthly. At the end of the term, interest of $7,870.98 was charged on the loan. Calculate the term of this...

Q:

1.Your bank offers you a personal loan of $14,000.00 at an interest rate of 5.77% compounded monthly. At the end of the term, interest of $7,870.98 was charged on the loan. Calculate the term of this...

Q:

How much did Speedy Movers borrow for a debt that accumulated to $54,217.41 in three years? The interest rate was 3.63% compounded semi-annually. Round to the nearest cent

Q:

Question 1 of 9 How much did Speedy Movers borrow for a debt that accumulated to $54,324.12 in three years? The interest rate was 4.50% compounded semi-annually. Round to the nearest cent

Q:

1.In deciding the optimal level of current assets for a firm, its management is concerned with a tradeoff between Short-term and long-term borrowing Profitability and risk Equity and debt Liquidity...

Q:

Bramble Company had the following department information for the month of September: Total materials costs, $46000; equivalent units of materials, 20000; total conversion costs, $32000; and...

Q:

The benefits of a living annuity include which of the following? ( i ) a low annuity ( 2 , 5 % of the capital value ) may be withdrawn, keeping the taxpayer s taxable income as low as possible ( ii )...

Q:

Live Forever Life Insurance Co. is selling a perpetuity contract that pays $2,000 monthly. The contract currently sells for $125,000. What is the monthly return on this investment vehicle? (Enter...