Isabella heard that if she invested her savings in a 91-day short-term investment at her local bank,
Question:
Isabella heard that if she invested her savings in a 91-day short-term investment at her local bank, she would earn interest at a simple interest rate of 3.5% p.a. Calculate the amount she invested and the interest earned from this investment if she received $11,950 at the end of the period.
AppendixLO1
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
Question Posted: