The interest earned on a $12,000 investment is $3015. Calculate the time period if the monthly compounded

Question:

The interest earned on a $12,000 investment is $3015. Calculate the time period if the monthly compounded rate was 9.00%.

AppendixLO1

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

Step by Step Answer:

Related Book For book-img-for-question

Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

See More Books

Question Posted: Aug 30, 2024 09:05 AM

See More Questions

For the following project please follow the below guidelines unless otherwise stated by your instructor. Worth 20% of the total grade. Read and follow all instructions in order to receive full...
List three examples of goods that do not fit neatly into the categories in Table 17.3 because they are not strictly rivalrous or exclusive? Table 17.3: Rivalry and Exclusion Exclusion No Exclusion...
Use the initial and final value properties to find the initial and final values of the waveforms corresponding to the transforms below. If either property is not applicable, explain why. (a) (b) (c)...
Explain limitations on confidentiality inherent in group therapy.
Presented next is information pertaining to Ward Specialty Foods, a calendar-year sole proprietorship, maintaining its books on the cash basis during the year. At year-end, however, Mary Ward's...
Sinbad Co. Ltd. is a company specializing in the production of high-end yachts for the billionaires. In order to expand its business, Sinbad wants to raise further debt capital and is about to issue...
Owen invested $250,000 in a TFSA that was earning 3.50% compounded semi-annually. How long will it take for the fund to realize an interest amount of $250,050? AppendixLO1
Interest of $6083.19 was charged on a student loan of $30,000 that was compounding semi-annually for three years. If the interest rate remains the same, how long will it take for the loan to...
Write the augmented matrix of the given system of equations. 0.03y = 0.06 |0.13.x + 0.10y = 0.20 0.01.x 0.20
Consider the nonlinear regression model $y=\exp \left(\mathbf{x}^{\prime} \boldsymbol{\beta} ight) /\left[1+\exp \left(\mathbf{x}^{\prime} \boldsymbol{\beta} ight) ight]+u$, where the error term is...
The term blue chip applies to stocks issued by a company in excellent financial standing with a record of producing earnings and paying dividends. Stocks in companies such as GE and Chrysler were...
An ETF is a. a contract that gives a buyer the right to buy or sell a security at a specified price on or before a certain date. b. an agreement between a buyer and seller to buy an asset at a later...
Treasury notes are bonds that mature in 2, 3, 5, 7, and 10 years. True or False
If you own a $5,000 bond that has a coupon of 4 percent and pays interest semiannually, how much interest would you receive? a. $200 every six months b. $200 once a year c. $200 every two years d....
Desi of New York sells its products to customers in the United States and the United Kingdom. On December 16, 2011, Desi sold merchandise on credit to Bronson Ltd. of London at a price of 17,000...
Give codons for the following amino acids: (a) Th (b) Asp (c) Thr
Joe is the beneficiary of a life insurance policy taken out by his father several years ago. Joes father dies, and Joe has the option of receiving the $100,000 face value of the policy in cash or...
Al flies for AAA Airlines. AAA provides its employees with several fringe benefits. Al and his family are allowed to fly on a space-available basis on AAA Airline. Tickets used by Al and his family...
Jet Corporation is involved in the purchase and rental of several large apartment complexes. Questions have been raised about the treatment of several items pertaining to Jet Corporation and its...

The interest earned on a $12,000 investment is $3015. Calculate the time period if the monthly compounded

Question:

Step by Step Answer:

Mathematics Of Business And Finance

Students also viewed these Business questions