Solved

Fred Borrowed Money 18 Months Ago at 12% Compounded Semiannually

Question 29

Multiple Choice

Fred borrowed money 18 months ago at 12% compounded semiannually. He now owes a total of $5450. How much of this is interest?

A) $874.07
B) $893.71
C) $767.67
D) $3540.63
E) $1041.04

Related Questions

Q24: A $10,000 eight-year investment earns interest at

Q25: What single amount, paid three years from

Q26: The population of Ourtown, Saskatchewan is expected

Q27: Calculate the maturity value of a two-year,

Q28: Money is worth 5% compounded semi-annually. What

Q30: On the same date that the CIBC

Q31: Calculate the combined equivalent value of the

Q32: A payment of $1300 is scheduled for

Q33: What was the redemption value of a

Q34: From a simple inspection, it is possible