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- Only typed answer and please don't use chatgpt The maximum amount of dollars created by a deposit of $15,000 and assuming a reserve requirement of 10% would be: $_______ (include the original $10,000) in your answer and please do not include a $ sign in your answer.Jackson is paying his current credit card bill. His bill says he had a starting balance of $2,500, an interest charge of $31.25, and a credit of $45 (from his last payment). a. What is the remaining balance on his credit card? b. His credit card company requires him to pay a minimum payment that consists of the current interest charge plus 1% of his balance. What is Jackson's mini- mum payment this month? c. If Jackson makes only this minimum payment, how much of his payment goes towards interest and how much goes towards paying off the balance on the credit card? Give you answer in both dollars and percents. d. What is the remaining balance on his credit card the next month?Please assist if possible.
- A principal of $20,000 is invested at 6% for 10 years. Determine its future value if the interest is compounded i. Semi-annually (10%) ii. Monthly (10%) iii. Continuously (10%) iv. Explain, using your own words, the different results in (i), (ii), (iii). Explain which one the consumer would prefer, and which one the bank would prefer.1. A bank is offering to sell four-month certificates of deposit for $ 4,926. At the end of four months, the bank will pay $5,000 to the certificate owner. Based on a four-month interest period: a) What is the interest rate the bank is paying you? b) What are the nominal and effective interest rates on this certificate of deposit?1) Calculate the value of a loan today that will be repaid with quarterly payments for a period of two years. During the first year, the quarterly payment is for $300, while in the second year, the quarterly payment increases to $400. Assume that the bank is charging an interest rate of 3% quarterly. Show your work.
- Illustrate how the Cash Balances change over time?In simple interest, the interest for the current period is computed based on the amount (principal plus interest up to the end of the previous period) at the beginning of the current period Select one: 7 True Falsemoney markets desk holds a floating–rate note with an eight-year maturity. The interest rate is floating at three-month LIBOR rate, reset quarterly. The next reset is in one month. What is the approximate duration of the floating-rate note?
