Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You deposit $ 2 0 0 , 0 0 0 on April 2 9 in a fund earning simple interest at r = 7 %

You deposit $200,000 on April 29 in a fund earning simple interest at r =7%.Using the banker's rule (ordinary interest), how much do you have on September 29? a$205,950.00 b$205,950.00 c$205,910.80 d$205,950.00

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

Dividend Policy On Share Price Volatility In Indian Stock Market

Authors: Vijay Deswal

1st Edition

3841859623, 978-3841859624

More Books

Students also viewed these Finance questions