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If you use a financial calculator please type the keys you are punching in sequences, thx Part 1 - Answer all related questions of a,b,
If you use a financial calculator please type the keys you are punching in sequences, thx
Part 1 - Answer all related questions of a,b, and c. Leo wishes to invest $8000.00 that he saved from his summer job. His bank offers 3.75% for a one-year term investment or 3.5% for a six-month term. Help Leo to investigate his options. a) How much will Leo receive after one year if he invests at the one-year rate? b) How much will Leo receive after one-year if he invests for six-months at a time at 3.5% each time? c) What would the one-year rate have to be to yield the same amount of interest as the investment described in part b)? Part II d) On June 12, 2013, Frank James opened a low-interest line of credit at his bank, with interest at 4.5% p.a. He used this line of credit immediately to pay $5300 of the tuition fee. On what date did Frank James honor the line of credit if he ended up paying $186.20 in interestStep by Step Solution
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