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1. Entegra Credit Union offers a five-year escalator GIC with annual rates of 1.65%, 2.4%, 2.65%, 2.95%, and 3.3%. Determine the maturity value and
1. Entegra Credit Union offers a five-year escalator GIC with annual rates of 1.65%, 2.4%, 2.65%, 2.95%, and 3.3%. Determine the maturity value and total interest earned on an investment of $6,000 along with the equivalent five-year fixed rate. 2. A 21-month $6,779.99 promissory note bearing interest of 7.5% compounded monthly was sold on its date of issue to a finance company at a discount rate of 9.9% compounded monthly. Determine the proceeds of the sale. 3. A $20,500 Series S104 C-bond CSB was redeemed on its maturity date in 2011. Calculate the maturity value and the total interest earned on the bond. 4. On January 19, 2012, a Series P36 C-bond CPB was redeemed for $19,549.90. How much interest is included in the maturity value?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
