Short Answer
a) What will be the maturity value of $15,000 placed in a 120-day term deposit paying an interest rate of1.25%?
b) If on the maturity date the combined principal and interest are "rolled over" into a 90-day term deposit paying1.15%, what amount will the depositor receive when the second term deposit matures?
Correct Answer:
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a) $15,061...View Answer
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Correct Answer:
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