Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. olive inc. wants to invest its net profits of $8,0

Olive Inc. wants to invest its net profits of $8,000.00 for 7 years in either...

60.1K

Verified Solution

Question

Finance

image

image

Olive Inc. wants to invest its net profits of $8,000.00 for 7 years in either a credit union or a local bank The credit union provides interest of 7.09% compounded semi- annually, while the local bank provides interest of 8.07% compounded quarterly. Calculate the maturity value of the investment with the: a. Credit union Round to the nearest cent b. Local bank Round to the nearest cent c. Which of the two options will yield the highest returns? a. Credit Union b. Local Bank

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students