What interest rate must money earn for a payment of $1389 on August 20 to be equivalent

Question:

What interest rate must money earn for a payment of $1389 on August 20 to be equivalent to a payment of $1348 on the previous March 29?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 07:11 AM

See More Questions

(Various Time Value of Money Situations) Using a financial calculator, solve for the unknowns in each of the following situations. (a) Wayne Eski wishes to invest $150,000 today to ensure payments of...
Consider the following independent situations. (a) Mark Yoders wishes to become a millionaire. His money market fund has a balance of $148,644 and has a guaranteed interest rate of 10%. How many...
Consider the following independent situations. (a) Mike Finley wishes to become a millionaire. His money market fund has a balance of $92,296 and has a guaranteed interest rate of 10%. How many years...
On January 1, 2012, Albert invested $1,000 at 6 percent interest per year for three years. The CPI (times 100) on January 1, 2012, stood at 100. On January 1, 2013, the CPI was 105; on January 1,...
Distinguish between an expense and an expenditure.
Calculate the theoretical potential at 25C needed to initiate the deposition of
P 14-9 Translation worksheet, parent accounting, consolidation San is a 90 percentowned foreign subsidiary of Par, acquired by Par on January 1, 2016, at book value equal to fair value, when the...
Mr. Gennone maintained a checking account at Peoples National Bank & Trust Company of Pennsylvania (Bank). Gennone noticed that he was not receiving his bank statements and canceled checks. When...
Customer: Purchase amount, name The entity(ies) is/are the attribute(s) is/are a) Purchase amount, customer b) Purchase amount, customer and name c) Customer, purchase amount and name d) Customer,...
It is March of 2021 and you are about to prepare the 2020 tax return for Kelsey Lee. Your meeting with Kelsey has provided the following information: Kelsey is thirty years old, divorced, and has an...
Westwood Homes is beginning work on its future College Park sub-division. Westwood is now pre-selling homes that will be ready for occupancy in nine months. Westwood is offering $5000 off the...
A payment stream consists of three payments: $1000 today, $1500 in 70 days, and $2000 in 210 days. What single payment, 60 days from now, is economically equivalent to the payment stream if money can...
Assuming the proper generic types are used, which lambda expression can be assigned to a ToDoubleBiFunction functional interface reference? (Choose three.) A. (Integer a, Double b) -> {int c; return...
Financial strength can be defined as the capacity to produce enough cash flows and earnings to pay creditors, investors, and other debts, as well as to cover expenses. Even though sales by themselves...
The RMS Titanic was the most technologically advanced liner in the world in the year 1912. At 11:40pm or Sunday, April 14 of that year, the Titanic struck an iceberg and sank in less than three...
1. A management consultant is hired by a manufacturing firm to determine the best site for its next production facility. The consultant has had several meetings with the company's senior executives...
The figure below shows that a pump is used to transfer water from a reservoir at ground level to a storage take that is elevated. The pump is located 10 ft above the water surface of the reservoir...
P6-3 (Algo) Comparing and Contrasting the Effects of Inventory Costing Methods on Financial Statement Elements LO6-2, 6-3 Neverstop Corporation sells item A as part of its product line. Information...
If we place $1,000 in a savings account paying 5 percent interest compounded annually, how much will our account accrue to in 10 years?
14. In testing the existence assertion, an auditor ordinarily works from the a. Financial statements to the accounting records. b. General journal to the general ledger. c. Supporting evidence to the...
Andrews Inc. issues a $497,000, lit".. 3-year mortgage (SO 7 note on January 1. The note will be paid in three annual installments of $200,000. each payable at the end of the year. What is the amount...
Solve the following equations. 15p / 2 = 7p + 4
Simplify each of the following. (n 0.5 ) 8
Simplify each of the following. (t 6 ) 1/3
September 1 . Purchased a new truck for $ 8 3 , 0 0 0 , paying cash. September 4 . Sold the truck purchased January 9 , Year 2 , for $ 5 3 , 6 0 0 . ( Record depreciation to date for Year 3 for the...
Find the NPV for the following project if the firm's WACC is 8%. Make sure to include the negative in your answer if you calculate a negative. it DOES matter for NPV answers
What is the value of a 10-year, $1,000 par value bond with a 12% annual coupon if its required return is 11%?

What interest rate must money earn for a payment of $1389 on August 20 to be equivalent

Question:

Step by Step Answer:

The time period from March 2...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions