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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 93
Solve the following application problems. Round to the nearest cent.
TIME OR RATE? Manager Isat Riyadh has a choice to make regarding short-term, excess corporate cash of $330,000. He can invest it (a) at 6% compounded quarterly for 6 months __________________ or (b) at 5% compounded semiannually for 1 year. Find the future amount of both. __________________ (c) Which is larger? __________________
TIME OR RATE? Manager Isat Riyadh has a choice to make regarding short-term, excess corporate cash of $330,000. He can invest it (a) at 6% compounded quarterly for 6 months __________________ or (b) at 5% compounded semiannually for 1 year. Find the future amount of both. __________________ (c) Which is larger? __________________
Explanation
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Let the principal be compounded quarter...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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