Question 1 Find the interest earned on an investment of $10,000 into a money market account...

 

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Question 1 Find the interest earned on an investment of $10,000 into a money market account that pays a simple interest rate of 1.75% over a 39 week period. You can assume there are 52 weeks in the current financial year. Question 2 If you borrow $3,000 at 14% simple interest for 10 months, how much you will owe in 10 months? How much interest you will pay? Question 3 The Chief Executive Officer of Canada Tire forgot to pay the company's income tax of $725,896.15 on time. The Canada Revenue Agency (CRA) charged a penalty of 12.7% annual interest for the 34 days the tax money was late. You are required to calculate the TOTAL amount that must be paid. You can assume there are 365 days in the current financial year. Question 4 Which investment gives you a higher return: 9% compounded monthly or 9.1% compounded quarterly? Question 5 The distance between Brampton and East York is 270 miles. On a certain map, this distance is scaled down to 4.5 inches. If the distance between East York and Oshawa on the same map is 12 inches, what is the actual distance between East York and Oshawa? Question 1 Find the interest earned on an investment of $10,000 into a money market account that pays a simple interest rate of 1.75% over a 39 week period. You can assume there are 52 weeks in the current financial year. Question 2 If you borrow $3,000 at 14% simple interest for 10 months, how much you will owe in 10 months? How much interest you will pay? Question 3 The Chief Executive Officer of Canada Tire forgot to pay the company's income tax of $725,896.15 on time. The Canada Revenue Agency (CRA) charged a penalty of 12.7% annual interest for the 34 days the tax money was late. You are required to calculate the TOTAL amount that must be paid. You can assume there are 365 days in the current financial year. Question 4 Which investment gives you a higher return: 9% compounded monthly or 9.1% compounded quarterly? Question 5 The distance between Brampton and East York is 270 miles. On a certain map, this distance is scaled down to 4.5 inches. If the distance between East York and Oshawa on the same map is 12 inches, what is the actual distance between East York and Oshawa?

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Answer 1 The interest earned on an investment of 10000 into a money market account that pays a simpl... View the full answer