A customer opens a certificate of deposit of $909,642. The current CD-rateis 9% and the CD duration is 162 days. What is the amount due to thecustomer at expiration of the CD?Round your answer to the nearest two decimals if needed. Do not type the$ symbol.

Face value=$909.642Interest rate=6%Period=162 days

Answered: % and the CD duration is 162 days. What…

% and the CD duration is 162 days. What is the amount due to th tomer at expiration of the CD? and your answer to the nearest two decimals if needed. Do not t mbol.

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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Assume that a one-year CD purchased for $1000 pays an APR of 6% that is compounded semi-annually. How much is in the account at the end of each compounding period? (Calculate the interest and compound it each period rather than using the compound interest formula. Round your answers to the nearest cent.) first period $ second period $ How much total interest does it earn? (Round your answer to the nearest cent.)$ What is the APY? %
How long will it take an RRSP to grow to $820,000 if it takes in month-end contribution of $1,200 and earns: (Do not round intermediate calculations. Round up the number of contributions to the next integer.) a. 5.2% compounded monthly? years, b. 7.2% compounded monthly? month(s) years, years, c. 7.6% compounded monthly? month(s) years, month(s) d. 10.5% compounded monthly? month(s)
What is the nominal annual rate compounded daily equivalent to an effective rate of 4.55% ? Round the answer to NOM to four decimal places. (1year = 365 days)
Find the APR, or stated rate, in each of the following cases. Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. Use 365 days in a year. *From a previous question, i learned that I should use APR=[(1+EAR)1/m-1]*m, but im still not getting the correct answer. I dont think im following the correct steps to solve the equation properly.
How long will it take $300 to accumulate to $800 at j12 = 7%? Assume that the practical method of accumulation is in effect. (Be sure to use linear interpolation.) Answer: 14 5 X years, 5 months and 29 Note: Carry four decimal places through all calculations. Your answers should be integers. X days
i need al answer a, b ,c
From an account originally containing $1800, $96 is withdrawn at the end of each month if interest is 6.4% compounded quarterly, for how long can the withdrawals be made? State your answer in years and months (from 0 to 11 months) The withdrawals can be made for year(s) and month(s).
Find the EAR in each of the following cases. Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. Use 365 days in a year. Number of Times Stated Rate (APR) Compounded Effective Rate (EAR) 9.75 % Quarterly % 16.25 % Monthly % 15.75 % Daily % 11.75 % Semiannually %
General Instruction: Use Yellow paper for your computation and answer. Task 1. Compute the interest of the following: 1. P25,000 at 6% simple interest for 1 year. 2. P30,000 at 9.5% simple interest for 90 days. 3. P60,000 at 12.5% simple interest for 2 years and 6 months.
What semiannually compounded rate is equivalent to 6% compounded: a. Annually? (Do not round the intermediate calculations. Round your answer to 2 decimal places.) Compounded rate 5.91 % b. Quarterly? (Do not round the intermediate calculations. Round your answer to 2 decimal places.) Compounded rate 6.04 % c. Monthly? (Do not round the intermediate calculations. Round your answer to 2 decimal places.) Compounded rate 6.061 %
Determine the simple interest. p = $1137.94, r = 1-% per month, t = 6 months 4 3 The simple interest on $1137.94 at 1-% per month for 6 months is $ 4 (Round to the nearest cent.)
T2.

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