FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. Negotiable certificates of deposits (NCDs) are interest- bearing deposits in financial institutions which may be sold before maturity. Assume an investor invested GHS 50,000

image text in transcribed
5. Negotiable certificates of deposits (NCDs) are interest- bearing deposits in financial institutions which may be sold before maturity. Assume an investor invested GHS 50,000 in 60-day NCDs and decided to liquidate the investment on the 45th day. Calculate the total interest and principal paid by the bank to the investor. Assume a buy and sell interest rate of 8.0% p.a and 9.5% p.a. for the 60-day NCD

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Collected Papers Financial Regulation In Estonia Poland And Latvia Within The Context Of European Union Membership

Collected Papers Financial Regulation In Estonia Poland And Latvia Within The Context Of European Union Membership

Authors: Graeme Scott Baber

1st Edition

1536194670,1536195596

More Books

Students also viewed these Finance questions

Question

★★★★★
If a companys net profit margin is 5 percent, its total asset turnover is 1.5 times, and its financial leverage ratio is 1.2 times, its return on equity is closest to a. 9.0 percent. b. 7.5 percent....

Answered: 1 week ago

Question

★★★★★
Sales-related transactions Sayers Co. sold merchandise on account to a customer for $86,000 terms 1/10, n/30. The cost of the goods sold was $67,000. a. Journalize Sayers' entries to record the sale,...

Answered: 1 week ago

Question

★★★★★
8-2. What questions should you ask yourself when choosing between the direct and indirect approaches? [LO-1]

Answered: 1 week ago

Question

★★★★★
A spherical thermocouple junction 1.0 mm in diameter is inserted in a combustion chamber to measure the temperature T of the products of combustion. The hot gases have a velocity of V = 5 m/s. (a)...

Answered: 1 week ago

Question

★★★★★
Here we will create a method to find the smallest value in an array: We provided the code for you to start, Main is done, you need to create minFinder function, o First do it with loops Create...

Answered: 1 week ago

Question

★★★★★
an fotr a plant nsset, all ot the following mut be known excep . To measure depreciation a a) Historical c b) Current value c) Estimated useful life d) Estimated residual value September 9, ctock...

Answered: 1 week ago

Question

★★★★★
Explain the product life cycle and discuss the various stages of product life cycle.

Answered: 1 week ago

Question

★★★★★
Explain the marketing strategies to be adopted at each stage of product life cycle.

Answered: 1 week ago

Question

★★★★★
Analyse the process of new product of development.

Answered: 1 week ago

Question

★★★★★
Define Trade Mark.

Answered: 1 week ago

Question

★★★★★
How did the abolition of slavery and the outcomes of the Civil War shape the political, social, and economic landscape of the United States during the Reconstruction era (1865-1877), and what were...

Answered: 1 week ago

Question

★★★★★
3. The nation of Upstandia uses kroner for money and its tax code is such that a person making 100,000 kroner per year pays 40,000 kroner per year in income taxes; a person making 200,000 kroner per...

Answered: 1 week ago

Question

★★★★★
2. Suppose George made $20,000 last year and that he lives in the country of Harmony. The way Harmony levies income taxes, each citizen must pay 10 percent in taxes on their first $10,000 in earnings...

Answered: 1 week ago

Question

★★★★★
5. For state and local governments, what are the three most important sources of revenue and types of expenditure? LO20.4

Answered: 1 week ago

Previous Question Next Question