BMO Bank of Montreal advertises that it will pay an interest rate of 0.2% on a 30-to-59-day
Question:
BMO Bank of Montreal advertises that it will pay an interest rate of 0.2% on a 30-to-59-day GIC, or 0.4% on a 60-to-89-day GIC. Janette has $12,000 to invest. How much more interest will she receive if she invests her money for 60 days instead of 59?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (9 reviews)
The 59day term deposit option will have a maturity v...View the full answer
Answered By
Rashul Chutani
I have been associated with the area of Computer Science for long. At my university, I have taught students various Computer Science Courses like Data Structures, Algorithms, Theory of Computation, Digital Logic, System Design, and Machine Learning. I also write answers to questions posted by students in the area of and around Computer Science.
I am highly fortunate to receive great feedback on my teaching skills that keeps me motivated. Once a student sent me an email stating that I had explained to him a concept better than his professor did.
I believe in the fact that "Teaching is the best way to learn". I am highly fascinated by the way technology nowadays is solving real-world problems and try to contribute my bit to the same.
Besides tutoring, I am a researcher at the Indian Institute of Technology. My present works are in the area of Text Summarization and Signal and Systems.
Some of my achievements include clearing JEE Advanced with an All India Rank of 306 out of 1.5 million contesting candidates and being the Department Ranker 1 at my University in the Department of Computer Science and Engineering.
I look forward to providing the best Tutoring Experience I can, to the student I teach.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
Bank savings accounts typically pay an interest rate well below the inflation rate. As of spring 2011, for example, the best interest rates on savings accounts were around 1% per year, while the CPI...
-
write a job description for Bill Ryan's job. What other information would you need to write a better job description? Remember, this is a job description, not a help wanted ad. Please do your own...
-
If you deposit $20,000 in a savings account at a bank, you might earn 1 percent interest per year. Someone who borrows $20,000 from a bank to buy a new car might have to pay an interest rate of 6...
-
Pierce Phones is considering the introduction of a new model of headphone whose selling price is $18 per unit and whose variable expense is $15 per unit. The company's monthly fixed expense is...
-
Steam enters an adiabatic turbine steadily at 6 MPa, 600oC, 50 m/s, and exits at 50 kPa, 100oC and 150 m/s. The turbine produces 5 MW. If the ambient condition is 100 kPa, 25oC. Determine the entropy...
-
Point A oscillates with an acceleration a = 100 (0.25 ? x), where a and x are expressed in m/s2 and meters, respectively. Knowing that the system starts at time t = 0 with v = 0 and x = 0.2 m,...
-
A cost center is responsible for which of the following? a. Investing in long-term assets. b. Controlling costs. c. Generating revenues. d. All of the above.
-
Effects of operating leverage on profitability Webster Training Services (WTS) provides instruction on the use of computer software for the employees of its corporate clients. It offers courses in...
-
This is an essay type of question in which you need to discuss the classification of a lease in terms of IFRS16 Leases. The following extract from an agreement between ABC Pty Ltd ("ABC"), a newly...
-
Determine the node voltages in the circuit in Fig. 3.67 using nodal analysis. 300 V 40 40 1 20 15 A 40 2.
-
An investment promises two payments of $1000, on dates 60 and 90 days from today. What price will an investor pay today if her required rate of return is 3%?
-
Calculate the price of a $50,000, 91-day Province of Nova Scotia Treasury bill on its issue date when the market rate of return was 1.273%.
-
What is the output of the HighSchool application? A. 10 B. 20 C. 4.0 D. One line of the program does not compile. E. Two lines of the program do not compile. F. None of the above. package edu; import...
-
Question 3 of 3 Additional information: 1. Net income for 2022 was $104,300. 2. Depreciation expense was $32,300. 3. Cash dividends of $46,300 were declared and paid. 4. Bonds payable with a carrying...
-
Ries, Bax, and Thomas invested $32,000, $48,000, and $56,000, respectively, in a partnership. During its first calendar year, the firm earned $339,000. Required: Prepare the entry to close the firm's...
-
1. What are the differences between Directional, Market Neutral, and Event-Driven Strategies? 2. What are the differences between Absolute return and relative return measurements?
-
The Millard Division's operating data for the past two years are provided below: Return on investment Net operating income Turnover Margin Sales Year 1 Year 2 12% 36% ? $ 540,000 3 ? ? $ 3,290,000 ?...
-
[15] For the curve defined by the following pair of parametric equations. x(t)= cos( t), y(t)=sin(2x 1), 0sts 2 a. Identify the point on the graph for which the y-value is a maximum. What is the...
-
Figure 1 shows a partial map of the streets in New York City. (Such maps are discussed in Chapter 5.) A tourist starts at point A and selects at random a shortest path to point B. That is, they walk...
-
How does the organizational structure of an MNC influence its strategy implementation?
-
Exactly what is meant by the accuracy of a point estimate?
-
What role does the central limit theorem play in the construction of a confidence interval for the population mean?
-
In using the standard normal distribution to construct a confidence interval for the population mean, what two assumptions are necessary if the sample size is less than 30?
-
It is wind that generate surface currents, waves, and tides. Group of answer choices True False
-
Possible new mines in Arizona include a proposed new (and potentially very large) underground mine just east of the smaller town of _____ and near the Oak Flat campground. Group of answer choices...
-
Fill in the Blank Question Fill in the blank question. power is the power of knowledge
Study smarter with the SolutionInn App