Question: I keep reposting these questions because the answer is wrong. Can an expert please correctly get the steps and answer correctly? A $1500 certificate of

 I keep reposting these questions because the answer is wrong. Canan expert please correctly get the steps and answer correctly? A $1500

I keep reposting these questions because the answer is wrong. Can an expert please correctly get the steps and answer correctly?

A $1500 certificate of deposit held for 69 days was worth $1524.73. What simple interest rate was earned? Assume a 360-day year. The certificate of deposit earned an interest rate of %. (Type an integer or decimal rounded to the nearest tenth as needed.) Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $5000 at 8% compounded semiannually for 2 years The present value is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

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!