2. If $14,000 had been invested in the Fictious Fund on June 30, 1995, then on June 30, 2005 the investment would have been worth $55,177.52. What interest rate compounded annually would this investment have earned? Round to the nearest hundredth of a percent. a. 14.70% b. 39.41% C. 29.41% d. 13.71% е. 29.41%
2. If $14,000 had been invested in the Fictious Fund on June 30, 1995, then on June 30, 2005 the investment would have been worth $55,177.52. What interest rate compounded annually would this investment have earned? Round to the nearest hundredth of a percent. a. 14.70% b. 39.41% C. 29.41% d. 13.71% е. 29.41%
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![2. If $14,000 had been invested in the Fictious Fund on June 30, 1995, then on June 30, 2005 the
investment would have been worth $55,177.52. What interest rate compounded annually would this
investment have earned? Round to the nearest hundredth of a percent.
а.
14.70%
b.
39.41%
С.
29.41%
d.
13.71%
е.
29.41%
3. A credit card bill due on April 5 showed a balance of $263. The card holder forgot to pay the bill until
the 20th of the month, but paid the full amount of $263 at that time. In the mean time, the card was
used to make purchases of $138 on the 10th of the month and $74 on the 20th of the month. What was
the average daily balance for the billing period?
а.
$362.50
b.
$95.97
с.
$166.07
d.
$184.27](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5ce1049a-ed66-41a4-a634-c26156462808%2F58025a32-c15b-4083-800d-c2b58382cacf%2F94x5bt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2. If $14,000 had been invested in the Fictious Fund on June 30, 1995, then on June 30, 2005 the
investment would have been worth $55,177.52. What interest rate compounded annually would this
investment have earned? Round to the nearest hundredth of a percent.
а.
14.70%
b.
39.41%
С.
29.41%
d.
13.71%
е.
29.41%
3. A credit card bill due on April 5 showed a balance of $263. The card holder forgot to pay the bill until
the 20th of the month, but paid the full amount of $263 at that time. In the mean time, the card was
used to make purchases of $138 on the 10th of the month and $74 on the 20th of the month. What was
the average daily balance for the billing period?
а.
$362.50
b.
$95.97
с.
$166.07
d.
$184.27
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