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  3. 1) on march 1, 2016 an amount of $2100 was investe

1) On March 1, 2016 an amount of $2100 was invested in an account which earns...

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Finance

1) On March 1, 2016 an amount of $2100 was invested in anaccount which earns 7.5%. Determine the balance on September 1,2019, if the interest is compounded: a) quarterly AND b)monthly?

2) How much should be invested at 6% compounded semiannually toacquire $2000 in eight years?


3) On July 15th, 2013, $800 was invested in an account paying 10%compounded semiannually. Then on July 15, 2017 the money wasreinvested in an account paying 8% compounded daily. Determine thebalance on October 20, 2017 using the Banker's Rule.

Answer & Explanation Solved by verified expert
4.3 Ratings (572 Votes)
1 a EAR 1 stated rateno of compounding periods no of compounding periods 1 100 175410041100 Effective Annual Rate 77136 Future value    See Answer
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