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can you show me how to set this up on excel? also what is the question asking me solve? Q10. Joshua Pitre (F410, Fa'10) is
can you show me how to set this up on excel? also what is the question asking me solve?
Q10. Joshua Pitre (F410, Fa'10) is a financial analyst at Hancock Bank who has suggested they offer a special type of certificate of deposit called a CONTIE that will pay interest that is compounded on a continuous basis. These instruments will be sold on a discount-basis and return $5,000 at maturity. How much would a customer expect to pay for a CONTIE that matures in two years if its quoted rate equals 2.45%? Answer: $4,760.91 Step by Step Solution
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