Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please give working and explanation. (pen and paper are also acceptable) the answer for question 1 is 6.622% but i dont know the working the

image text in transcribedimage text in transcribed

please give working and explanation. (pen and paper are also acceptable)

the answer for question 1 is 6.622% but i dont know the working

the answer for q2 is Bank A: FV= 14190.20 and Interest=4190.20 and Bank B: 15677.02 and Interest=5677.02

please show working for the answers, will give thumbs up if correct

8. You have invested $3300 in the stock market and have a return of $4000 after 3 years. What annual interest rate compounded annually did your investment earn? Express your answer as a percent correct to three decimal places. 0. Bank A offers a loan rate of 7% compounded daily, whilst Bank B offers a rate of 9% compounded weekly. Which loan would be cheaper to take if the amount borrowed is $10,000 over a 5 year period

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

Which Department Century is the worst performing?

Answered: 1 week ago

Question

What differentiates you from your competitors?

Answered: 1 week ago

Question

How do you monitor the effectiveness of the coaching?

Answered: 1 week ago