FREE Trial S
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Save Answer Question 15 6 points Lisa wants to have $40,000 in ten years. The bank is offering ten-year investment certificate that pay 4% nominal

image text in transcribed

Save Answer Question 15 6 points Lisa wants to have $40,000 in ten years. The bank is offering ten-year investment certificate that pay 4% nominal interest (annual rate), but compounded quarterly. How much money should she invest in the certificate to reach her goal? (Financial Term GIC: Guaranteed Investment Certificate) 26,866.13 25,149.59 30,000.00 31,189.14 28,553.12

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

Financial Management For Nurse Managers And Executives

Financial Management For Nurse Managers And Executives

Authors: Cheryl Jones, Steven A. Finkler, Christine T. Kovner

4th Edition

ISBN: 1455700886, 9781455700882

More Books

Students also viewed these Finance questions

Question

★★★★★
Show that a moving electron cannot spontaneously change into an x-ray photon in free space .A third body (atom or nucleus) must be present. Why is it needed?

Answered: 1 week ago

Question

★★★★★
Hawkeye Corporations balance sheet at December 31, 2016, is presented below. LO6 HAWKEYE CORPORATION Balance Sheet December 31, 2016 Cash $ 24,600 Accounts payable $ 25,600 Accounts receivable 45,500...

Answered: 1 week ago

Question

★★★★★
4. Reduce the task risk without oversimplifying it. When tasks are risky (failure is likely and the consequences of failing are grave), student motivation suffers. For difficult, complex, or...

Answered: 1 week ago

Question

★★★★★
The Enron debacle created what one public official reported was a crisis of confidence on the part of the public in the accounting profession. List the parties who you believe were most responsible...

Answered: 1 week ago

Question

★★★★★
Question 1 8 Which of the following should be included while recording a periodical as a source? Names of the editors Article title Methods of communication Database name Name of sponsor

Answered: 1 week ago

Question

★★★★★
What are some of the problems nations face in applying the law if they have a mixed legal system?

Answered: 1 week ago

Question

★★★★★
1. Gwerrero 24 Aviation 31 Mid-Term Exam 10/18/22 onus (1 Point): Describe the primary means by which adverse yaw is reduced on the Cessna-150/152 and how works: Show all of your work and Pro Bonus...

Answered: 1 week ago

Question

★★★★★
2. List the Young's modulus, Yield strength(or breaking strength for brittle material), and failure strain for a)steel, b)aluminum alloy,c) glass, d) rubber, and e)Nylon. For strength and failure...

Answered: 1 week ago

Question

★★★★★
Israeli container ship operator ZIM Shipping is turning its small size into an advantage in a business dominated by outsize carriers running megaships in global supply chains, writes The Wall Street...

Answered: 1 week ago

Question

★★★★★
Portions of the financial statements for Peach Computer are provided below PEACH COMPUTER Income Statement For the year ended December 31, 2018 Net sales $1.975,000 Expenses Cost of goods sold...

Answered: 1 week ago

Question

★★★★★
Use the following information to answer the next question. The diagram shows a pendulum bob that has been pulled to the right by an angle e. Diagram is not to scale. 3. The pendulum has a length of...

Answered: 1 week ago

Question

★★★★★
Explain the various kinds of retirement plans.

Answered: 1 week ago

Question

★★★★★
Explain workplace flexibility (work-life balance).

Answered: 1 week ago

Question

★★★★★
Discuss global issues in employee benefits.

Answered: 1 week ago

Previous QuestionNext Question