Question
An investment that has a maturity value of $3,400 and is discounted 5 years and 6 months before maturity at 4.80% compounded semi-annually. a. Calculate
An investment that has a maturity value of $3,400 and is discounted 5 years and 6 months before maturity at 4.80% compounded semi-annually.
a. Calculate the discounted value of the investment.
Round to the nearest cent
b. Calculate the amount by which the money is discounted.
3
Angela is expected to settle a loan on May 23rd, 2019 by paying $3,000. What amount should he pay if he decides to settle it on June 14th, 2018 instead? The interest rate is 3.44% compounded semi-annually.
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