Question: You just invested $ 1 0 , 0 0 0 in a term deposit that pays 2 . 9 % compounded semi - annually. How

You just invested $10,000 in a term deposit that pays 2.9% compounded semi-annually. How many YEARS would it take to earn $7,787 in interest?

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:

Please see attachment for questions. 1. Calculate the future value of an investment of $1,000, after 6 months, earning 6% APR, compounded monthly, by compounding manually 2. Find the future value of...

Q:

BUQU 1130 - Final Project Instructions: You can work on this in groups of up to 5 people. Please submit one file per group. Make sure you show the steps you follow to answer each question to get the...

Q:

The Case: Hassan Mustafa has recently started his new job as a financial manager in a firm called ScanSoft. ScanSoft is developing a new process to manufacture optical disks. The development costs...

Q:

\ Attempt the following questions . 3. Suppose ScanSoft discovers on January 20, 2031, that it can earn 2.5% interest compounded semi-annually on its sinking fund account. a. What is the balance in...

Q:

FV , PV & RETURNS 1 a. At the end of 10 years, how much is an initial deposit of $100 worth, assuming an interest rate of 10 percent compounded (1) annually? (2) semi-annually? (3) quarterly? (4)...

Q:

The Case: Hassan Mustafa has recently started his new job as a financial manager in a firm called ScanSoft. ScanSoft is developing a new process to manufacture optical disks. The development costs...

Q:

1. YAA Bank is newly established and offers savings deposits rate of 6% compounded semi- annually. If you deposit $100,000 into that account, how many years will you have to wait until your account...

Q:

Instructions: You can work on this in groups of up to 5 people. Please submit one file per group. Make sure you show the steps you follow to answer each question to get the marks. Each part of the...

Q:

Hassan Mustafa has recently started his new job as a financial manager in a firm called ScanSoft. ScanSoft is developing a new process to manufacture optical disks. The development costs were higher...

Q:

7) Assume that you invested $10,000 today in a bank where you.amg%.? continuously. How much will you have in your bank account at the e a) $17,144 end of 7 years c)$18,776 16,578 8) Bank A offers 8%...

Q:

Say you bought a house for $195,000 with 10% down, and financed it from a bank for a 30-year term at 5.00% interest per year compounded monthly. If you can make a monthly payment of $750 only, what...

Q:

Entre Preneur found a site for his new haute cuisine restaurant. The site has a vacant gasoline station. He purchased the property for $ 900,000 and had the station demolished at a cost of $ 30,000....

Q:

Item 3 3 Time Remaining 5 minutes 2 0 seconds 0 0 : 0 5 : 2 0 Item 3 3 Time Remaining 5 minutes 2 0 seconds 0 0 : 0 5 : 2 0 Which of the following is not completed before a cash budget is prepared?...

Q:

Describe how total variable costs and unit variable costs behave with changes in the level of activity. If fixed costs increase, what would be the impact on the contribution margin and income from...