The bank offers you a 8% continuously compouding interest rate. If the bank offers you an equivalent interest rate compounded quarterly, what will that interest rate be?
The bank offers you a 8% continuously compouding interest rate. If the bank offers you an equivalent interest rate compounded quarterly, what will that interest rate be?
Victoria plans to make deposits of $310 at the end of every three months into a savings account in the hopes of saving up for a used car. If the account earns interest at a rate of 6% compounded quarterly,...
Maximus invests a sum of money in a bank account which earns 2%, and increases by 1% every 6 months. The interest is compounded monthly. He pulls out $4300 out of his account after 21 months. How...
Alice keeps meaning to invest more in her RRSP. Her original plan was to invest $6000 eight months ago and an additional $7000 in four months. Unfortunately due to unforseen circumstances, she was...
Ricardo takes out a loan from Enrique. It is agreed that Ricardo will pay back the loan in two payments, $3154 after 2 years and $2397 after 6 years. Ricardo decides he wants to renegotiate the payment...
Maximus invests a sum of money in a bank account which earns 2%, and increases by 1% every 6 months. The interest is compounded monthly. He pulls out $4300 out of his account after 21 months. How...
Big Stan has a choice of two different investment options. The first is to invest $13354 at 7% compounded continuously. The second is to invest $17217 at 7% compounded monthly. After 1 years, write...
Suppose that after 9.5 years, an investment exactly doubles its value. If interest is compounded semiannually, what is the nominal rate of interest? Express the rate as a percentage, not...
You are looking to save up enough money to buy L.A Kings premium club seats, which retail for $1155.40. You want to invest sufficient money today in order to pay for the tickets in 9 months. Assuming...
One year ago, Paul divided an investment of $42000 into two equal amounts placed in separate accounts. Both accounts have a nominal rate of interest of 8%. The first account is compounded quarterly,...
Ricky Bobby open a savings account, where the interest rate changes according to the portion of the principal. The account works as follows: For $0-1000, the interest rate is 1%. For the portion of...
Rocky and Adrien are selling their house. Offer #1 puts $8000 down and pays the lump sum $143282 in 4 months. Offer #2 puts $8000 down and pays the lump sum $153881 in 13 months. At what rate of interest...
Rocky and Adrien are selling their house. Offer #1 puts $8094 down and pays the lump sum $140010 in 3 months. Offer #2 puts $8094 down and pays the lump sum $178520 in 13 months. Assume their money...
Jimmy Jim invests $88 in a bank account at 6%. How many months (round up) does he need to leave his money in to buy a $132 blackberry playbook?
If an investment of $14199 made on August 16th, 2007 had a maturity value of $15820 on November 22nd, 2008, what was the rate of simple interest? Enter your answer as a percent, not as a...
Next summer you are planning a trip to Ibiza that will set you back roughly $3900. You have decided to put money aside starting November 30th 2012, with additional, equal payments on February 28th...
A firms profit from selling a particular item is given by the profit function p(x)=41.67x-106. If this same firm has a total cost function given by TC(x)=18.71x+106, then what is the selling price...
A company has a profit function given by: Profit = (22.85 - c)x - 11585, where x represents the number of units being sold and c is the cost of producing the good. The company breaks...
Happy Planet drinks price change as the quantity sold changes. In particular p=10-0.057x. The total cost to produce the drinks are $8 per drink. Their production factory costs $1662 per month. What...
Happy Planet drinks price change as the quantity sold changes. In particular p=19-0.005x. The total cost to produce the drinks are $5 per drink. Their production factory costs $1903 per month. What...