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1. Determine the amount of a $2000 Ontario Savings Bond (OSB) earning 16.7% compounded annually...

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Accounting

1. Determine the amount of a $2000 Ontario Savings Bond (OSB) earning 16.7% compounded annually for 3 years.

2. Sheila invests $5000 in a Guaranteed Investment Certificate (GIC) earning 4.8% compounded annually for 3

years. Determine the interest earned.

3. Suppose a $3500 investment earns 5.8% compounded annually for 7 years. Under which scenario does the

amount double?

4. Suppose a $4400 investment earns 5.6% compounded annually for 6 years. Which statement is true?

a. The interest earned in the last year is the same as the interest earned in the first year. b. More interest is earned in the last year than in the first year. c. More interest is earned in the first year than in the last year. d. No interest is earned until the last year.

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