An elite private college receives large donations from successful alumni. The account that holds these donations has $955,000,000 currently. Fill in the blanks in the statements below. Remember to use commas and decimals when writing monetary values. 1. The account would earn $ 2. The account would earn $ to the nearest cent.) 3. If the account is compounded daily, it earns $ interest. in one year of simple interest at a rate of 5.33%. in one year at 5.33% is the interest was compounded daily. (Round more in interest when compared to simple 4. The interest earned is used to pay full scholarships of $61,000 per student. If the interest was compounded daily rather than using simple interest, then it would pay for more student scholarships.
An elite private college receives large donations from successful alumni. The account that holds these donations has $955,000,000 currently. Fill in the blanks in the statements below. Remember to use commas and decimals when writing monetary values. 1. The account would earn $ 2. The account would earn $ to the nearest cent.) 3. If the account is compounded daily, it earns $ interest. in one year of simple interest at a rate of 5.33%. in one year at 5.33% is the interest was compounded daily. (Round more in interest when compared to simple 4. The interest earned is used to pay full scholarships of $61,000 per student. If the interest was compounded daily rather than using simple interest, then it would pay for more student scholarships.
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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Transcribed Image Text:An elite private college receives large donations from successful alumni. The account that holds these donations has $955,000,000 currently. Fill in the
blanks in the statements below. Remember to use commas and decimals when writing monetary values.
1. The account would earn $
2. The account would earn $
to the nearest cent.)
3. If the account is compounded daily, it earns $
interest.
in one year of simple interest at a rate of 5.33%.
in one year at 5.33% is the interest was compounded daily. (Round
2
more in interest when compared to simple
4. The interest earned is used to pay full scholarships of $61,000 per student. If the interest was compounded daily rather than using simple interest,
then it would pay for
more student scholarships.
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