Answered step by step
Verified Expert Solution
Question
1 Approved Answer
URGENT PLEASE HELP (6) An investor bought a $250,000 face Government of Ontario Treasury Bill 355 days before maturity at an interest rate of 3.9%
URGENT PLEASE HELP
(6) An investor bought a $250,000 face Government of Ontario Treasury Bill 355 days before maturity at an interest rate of 3.9% p.a. She sold the T-bill 146 days later at a rate of 2.45% p.a. Determine: (8 marks total) a. The amount she paid for the T-bill. b. The amount she sold the T-bill for c. The rate of return (R) she realized on her investment over the 146 days. 3) An $800,000 demand loan was taken out on March 31 from the CIBC Bank at a cost of 9% p.a. The demand loan agreement provided for a final payment on December 29, and payments of $400,000 on June 15 and $300,000 on October 17. Using the declining balance method, how much must be paid on December 29? (8 marks) a. how much is owing on June 15th after the payment? b. how much is owing on Oct 17th after the payment? c. how much is the last payment on Dec 29th? 1) Fill in the missing values in the chart below. (1 mark each-4 total) Rate (1) Time (t) Interest (1) Principal (P) $24,787 a. 9% p.a. 438 days 5 % p.a. 39 months $50,895 c. $10,800 % p.a. 1.25 years $1,653.75 d. $800 9% p.a. $71.80 days Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started