E. $1000 was invested on April 18, 2015, in a GIC earning 7.7% per annum. On...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
E. $1000 was invested on April 18, 2015, in a GIC earning 7.7% per annum. On its maturity date, the certificate paid $32 28 interest. On what date did it mature? F. 4. Cecile placed $17,000 in a 270-day term deposit earning 4.25%. How much will the bank pay Cecile on the maturity date? G. What amount seven months from now is equivalent to $1215 today if money can be invested to earn 8.5 %? H. Two payments of $3000 each are to be received 3 and 12 months from now. If money is worth 5%, what is the total equivalent value of the payments: a) Today? b) 6 months from today? E. $1000 was invested on April 18, 2015, in a GIC earning 7.7% per annum. On its maturity date, the certificate paid $32 28 interest. On what date did it mature? F. 4. Cecile placed $17,000 in a 270-day term deposit earning 4.25%. How much will the bank pay Cecile on the maturity date? G. What amount seven months from now is equivalent to $1215 today if money can be invested to earn 8.5 %? H. Two payments of $3000 each are to be received 3 and 12 months from now. If money is worth 5%, what is the total equivalent value of the payments: a) Today? b) 6 months from today?
Expert Answer:
Related Book For
Principles of Taxation for Business and Investment Planning 2016 Edition
ISBN: 9781259549250
19th edition
Authors: Sally Jones, Shelley Rhoades Catanach
Posted Date:
Students also viewed these economics questions
-
If money can be invested to earn 6.5% compounded annually, how much would have to be invested today to grow to $10,000 after: a. 10 years? b. 20 years? c. 30 years?
-
What amount three years from now is equivalent to $3000 due five months from now? Assume that money can earn 7.5% compounded monthly.
-
What payment in 2 months from now is equivalent to a $10,000 payment today if money can earn 3.95%?
-
Page ranks. Design a graph in which the highest-ranking page has fewer links pointing to it than some other page.
-
What forms of risk affect investments?
-
Why did the FASB decide to allow the fair value option?
-
Global Eclectic. What does it mean to say the international monetary system today is a global eclectic?
-
Chataqua Can Company manufactures metal cans used in the food-processing industry. A case of cans sells for $50. The variable costs of production for one case of cans are as follows: Direct material...
-
Muffin Co. has a December 31 year-end. It used some of its excess cash to buy temporary investments. The following transactions relating to these investments occurred this year: Jan 15th - Bought...
-
When the motorcyclist is at A, he increases his speed along the vertical circular path at the rate of v = (0.3t) ft/s, where t is in seconds and t = 0 at A. If he starts from rest at A, determine the...
-
Tango Company produces joint products M, N, and T from a joint process. This information concerns a batch produced in April at a joint cost of $130.000 After Split-off Units Produced and Total...
-
Write a complete C++ program segment to accept the marks of 10 students. The program must consist of: a) Declare appropriate variables in the program. (2 marks) b) FOR loop statement for 10 students....
-
You are given the following information with respect to a bond: (1) Par value: 1000 (2) Term to maturity: 3 years (3) Annual coupon rate 8% payable annually You are also given that the one, two, and...
-
Analyze how significant historical events, such as World War II or the Civil Rights Movement, have influenced literary themes, character archetypes, and narrative styles ? .
-
Monique has amassed a following of over 1 Million followers on social media. Her content primarily centers around her fabulous life. Think pool days, brunch, happy hours, Taco Tuesday, travel, and...
-
For three consecutive years the tuition of an university increased by 10%, 14 %, and 12%, respectively. What was the overall percentage increase of tuition during the three-year-period? The overall...
-
The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhea April 1 Inventory balances Raw materials Work in process Finished goods...
-
Parkin Industries, a U.S. company, acquired a wholly-owned subsidiary, located in Italy, at the beginning of the current year, for 200,000. The subsidiary's functional currency is the euro. The...
-
Which type of tax law provision should be more stable and less uncertain as to its future application: a provision relating to the proper measurement of taxable income or a provision designed to...
-
Mr. C, an unmarried individual, had the following income items: Interest income $ 14,200 Ordinary loss from an S corporation .. (8,400) Ordinary income from an LLC 179,000 He had $17,300 itemized...
-
WRT, a calendar year S corporation, has 100 shares of outstanding stock. At the beginning of the year, Mr. Wallace owned all 100 shares. On September 30, he gave 25 shares to his brother and 40...
-
Explain how each of the limitations in question 11 could be overcome.
-
The relevant financial performance figure for an investor is the amount available for distribution at the balance sheet date. Discuss.
-
In April 2000 the G4 !1 Group acknowledged that market exit value is generally regarded as the basis for fair value measurement of financial instruments and was discussing the use of the deprival...
Study smarter with the SolutionInn App