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

Question

1 Approved Answer

An international firm deposited $ 8 0 0 , 0 0 0 in a 3 - year time deposit earning 6 % compounded daily with

An international firm deposited $800,000 in a 3-year time deposit earning6% compounded daily with a bank as partial collateral for a loan. Find the compound amount and the interest earned.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions

Question

=+Dependent variable is: WM Rev R squared = 94.3% R squared (adjusted) = 91.6% s = 1.121 with 39 - 13 = 26 degrees of freedom Variable Coeff SE(Coeff) t-ratio P-value Intercept 12.0322 0.6562 18.3...

Answered: 1 week ago

Question

★★★★★
The adjusted trial balance of Cavamanlis Co. as of December 31, 2012, contains the following. Instructions (a) Prepare an income statement.(b) Prepare a statement of retained earnings.(c) Prepare a...

Answered: 1 week ago

Question

★★★★★
Most Company has an opportunity to invest in one of two new projects. Project Y requires a $310,000 investment for new machinery with a four-year life and no salvage value. Project Z requires a...

Answered: 1 week ago

Question

★★★★★
A cake is removed from an oven at 218F and left to cool at room temperature, which is 52F. After 39 minutes, the temperature of the cake is 109F. When will it be 70F? The cake will be at 70F after...

Answered: 1 week ago

Question

★★★★★
The Situation: During the wedding reception of Jeremy and Megan Fielding at the Fielding family mansion, Blake Rosewood, a guest at the wedding, ran yelling into the main ballroom, having discovered...

Answered: 1 week ago

Question

★★★★★
Final Assignment (To be completed by the student) 1. Briefly describe the ISD process, compare and outline the components. (200 words - 4 marks) Given the Needs Analysis provided by the company to...

Answered: 1 week ago

Question

★★★★★
An automated, swinging security light, hanging from the corner of a 35 ft tall building, is lighting the ground in front of the building. The angle 0 (see image below) is increasing at a rate of 0.6...

Answered: 1 week ago

Question

★★★★★
A department has three machines. The following figures indicate the departmental expenses for the most recent month Depreciation of machinery Depreciation of building Repairs to machinery Insurance...

Answered: 1 week ago

Question

★★★★★
In this module, you will plan a diving trip. You will need to know estimates of the pressure changes that you will experience. For example, if you estimate reaching depths of 200 ft (61.0 m). The...

Answered: 1 week ago

Previous Question Next Question