Question: -The interest rate on a GIC is 4.59% compounded semi-annually. What is the purchase price of the GIC if it has a maturity value of

-The interest rate on a GIC is 4.59% compounded semi-annually. What is the purchase price of the GIC if it has a maturity value of $37,475 in 4 years and 4 months?

-Alexis acquired a $8,000.00, 91-day, Province of Alberta T-bill on its date of issue for a price of $7,882.09. What was the annual simple interest rate of the T-bill?

please do not on excel thanks

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!

The interest rate on a GIC is 4.59% compounded semi-annually. What is the purchase price of the GIC if it has a maturity value of $36,295 in 3 years and 4 months?

Question 11 of 13 The interest rate on a GIC is 4.20% compounded semi-annually. What is the purchase price of the GIC if it has a maturity value of $31,232 in 5 years and 7 months? $39,510 390 Round...

The interest rate on a GIC is 4.05\% compounded semi-annually. What is the purchase price of the GIC if it has a maturity value of $37,293 in 4 years and 4 months? Round to the nearest cent

Question 1 of 15 The interest rate on a GIC is 4.02% compounded semi-annually. What is the purchase price of the GIC if it has a maturity value of $35,425 in 3 years and 5 months? Round to the...

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...

The interest rate on a GIC is 4.75% compounded quarterly. What is the purchase price of the GIC if its maturity value in 4 years and 6 months is $33,926?

Question 7 of 10 The interest rate on a GIC is 3.50% compounded quarterly. What is the purchase price of the GIC if its maturity value in 4 years and 6 months is $36,623? Round to the nearest cent...

The interest rate on a GIC is 4.89% compounded quarterly. What is the purchase price of the GIC if it has a maturity value of $32,183 in 3 years and 10 months? Round to the nearest cent

The interest rate on a GIC is 4.25% compounded quarterly. What is the purchase price of the GIC if its maturity value in 3 years and 3 months is $33,546? Round to the nearest cent

he interest rate on a GIC is 4.53% compounded quarterly. What is the purchase price of the GIC if it has a maturity value of $38,138 in 3 years and 7 months?

Is statutory income defined in either ITAA? Why, or why not?

Approximate each of the following on the basis that (to four decimal places) log2 5 = 2.3219 and log2 7 = 2.8074. (a) log2 10 (b) log2 100 (c) log2 (7/5) (d) log2 175

The MACRS schedule lists the tax depreciation rates that firms use for assets placed into service after the Tax Reform Act of 1986 went into effect. The table indicates the percentage of the cost of...

Consider the following cash flows. All market interest rates are 12% right now Year 0 1 2 3 4 Cash Flow 160 170 180 230 (a) What price would you pay for these cash flows? What total wealth do you...