(a) Explanation Given: The amount invested is $645 and the monthly percentage return is 1.3%. Formula used: Monthly Return = Percent return × Amount invested . Calculation: Compute the monthly return because there is need to find the product of the monthly percentage return and amount invested. The monthly percentage return is in the percentage form, so convert it into decimal form first by dividing it with 100 (b) To determine To calculate: The annual return if the amount invested is $645 and the monthly percentage return is 1.3%. (c) To determine To calculate: The annual percentage return if the amount invested is $645 and the monthly percentage return is 1.3%.

Mathematical Ideas (13th Edition) - Standalone book

13th Edition

ISBN: 9780321977076

Author: Charles D. Miller, Vern E. Heeren, John Hornsby, Christopher Heeren

Publisher: PEARSON

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Chapter 13.5, Problem 47E

(a)

To determine

To calculate: The monthly return if the amount invested is $645 and the monthly percentage return is 1.3%.

(b)

To determine

To calculate: The annual return if the amount invested is $645 and the monthly percentage return is 1.3%.

(c)

To determine

To calculate: The annual percentage return if the amount invested is $645 and the monthly percentage return is 1.3%.

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Chapter 13.5, Problem 46E

Chapter 13.5, Problem 48E

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Chapter 13 Solutions

Mathematical Ideas (13th Edition) - Standalone book

Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - Find the future value of each deposit if the...Ch. 13.1 - Find the future value of each deposit if the...Ch. 13.1 - Find the future value of each deposit if the...Ch. 13.1 - Find the future value of each deposit if the...

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The monthly return if the amount invested is $645 and the monthly percentage return is 1.3%.

Solution Summary: The author calculates the monthly return if the amount invested is 645 and monthly percentage return is 1.3%.

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To calculate: The monthly return if the amount invested is $645 and the monthly percentage return is 1.3%.

To calculate: The annual return if the amount invested is $645 and the monthly percentage return is 1.3%.

To calculate: The annual percentage return if the amount invested is $645 and the monthly percentage return is 1.3%.

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Chapter 13 Solutions