On September 30, an inn invested $21,750 in a short-term investment of 207 days. An investment of this length earns 1.3% p.a How much will the investment be worth at maturity? The investment be worth S at maturity (Round to the nearest cent as needed)

On September 30, an inn invested $21,750 in a short-term investment of 207 days. An investment of this length earns 1.3% p.a How much will the investment be worth at maturity? The investment be worth S at maturity (Round to the nearest cent as needed)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Treasury Market

On-the-run securities are the most recently issued securities in the market depth and are therefore traded at some premium. The off-the-run securities are the ones issued just before the most recent ones. The on-the-run securities have a lower yield to the investor than the off-the-run securities.

Question

On September 30, an inn invested $21,750 in a short-term investment of 207 days. An investment of this length earns 1,3% pa How much will the investment be worth at maturity?
The investment be worth $at maturity
(Round to the nearest cent as needed)
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