What interest will produce a capital of $ 59,000.00 in 1 year 4 months at 21.5% per year? A. $ 14,333.33 B. $ 13,433.33 C. $ 13,580.00 D. $ 14,530.00
What interest will produce a capital of $ 59,000.00 in 1 year 4 months at 21.5% per year? A. $ 14,333.33 B. $ 13,433.33 C. $ 13,580.00 D. $ 14,530.00
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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Question
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Select the correct answer, explain
What interest will produce a capital of $ 59,000.00 in 1 year 4 months at 21.5% per year?
A. $ 14,333.33
B. $ 13,433.33
C. $ 13,580.00
D. $ 14,530.00
Expert Solution
Given
Capital = $59,000
Time Period = 1 Year 4 Months
Interest rate = 21.5%
Step by step
Solved in 3 steps
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