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help please Mountain Grains Cooperative wants to invest $44,000 in a short-term deposit. The bank offers 2.8% interest for a one-year term and 2.7% for
help please
Mountain Grains Cooperative wants to invest $44,000 in a short-term deposit. The bank offers 2.8% interest for a one-year term and 2.7% for a six-month term. (a) How much would Mountain Grains receive if the $44,000 is invested for one year? (b) How much would Mountain Grains receive at the end of one year if the $44,000 is invested for six months and then the principal and interest earned is reinvested for another six months? (c) What would the one-year rate have to be to yield the same amount of interest as the investment described in part (b)? (a) After one year, Mountain Grains will have $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) A loan of $1540 taken out on June 7 requires three payments. The first payment is due on July 7. The second payment is twice as large as the first payment and is due on August 21. The final payment, due on November 3, is three times as large as the first payment. If the focal date is June 7, what is the size of each of the three payments at an interest rate of 4.8%? The first payment is the second payment is $), and the third payment is $ (Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Step by Step Solution
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