Questions from Business Mathematics

Q: Krista invested $18,000 in a three-year regular

Krista invested $18,000 in a three-year regular-interest GIC earning 4.2% payable semiannually. What is each semiannual interest payment?

Q: Using the information given in Problem 8, calculate the interest earned

Using the information given in Problem 8, calculate the interest earned in the third year from a $10,000 investment in each GIC. Data from Problem 8: Sun Life Financial offers a five-year compound in...

Q: Calculate the maturity value of $2000 invested in a five-

Calculate the maturity value of $2000 invested in a five-year compound interest GIC earning 2.1% compounded annually.

Q: A compound interest GIC will earn 5% compounded annually for the

A compound interest GIC will earn 5% compounded annually for the first two years and 6% compounded annually for the last three years of its five-year term. What will be the maturity value of $3000 inv...

Q: $8000 is invested in a five-year compound interest GIC

$8000 is invested in a five-year compound interest GIC earning interest rates of 2%, 2.5%, 3%, 3.5%, and 5% in successive years. What amount will the investor receive at maturity?

Q: Western Life’s “Move-Up” compound interest GIC earns 4

Western Life’s “Move-Up” compound interest GIC earns 4.125%, 4.25%, 4.5%, 4.875%, and 5% in successive years. What will be the maturity value of $7500 invested in this GIC?

Q: The BMO Bank of Montreal advertised rates of 1.8%,

The BMO Bank of Montreal advertised rates of 1.8%, 2.25%, 2.6%, 3%, and 3.25% for the five successive years of its five-year compound interest RateOptimizer GIC. At the same time, the bank was offerin...

Q: Ross’s compensation is to be changed from an hourly rate of $

Ross’s compensation is to be changed from an hourly rate of $31.50 for a 40-hour workweek to a salary paid semimonthly. What should he be paid semimonthly in order for his annual earnings to remain th...

Q: On the same date that the CIBC advertised rates of 2%,

On the same date that the CIBC advertised rates of 2%, 2.5%, 3%, 3.25%, and 7% in successive years of its five-year compound interest Escalating Rate GIC, it offered 2.75% compounded annually on its f...

Q: Using the information given in Problem 16, calculate the interest earned

Using the information given in Problem 16, calculate the interest earned in the fourth year from a $10,000 investment in each GIC. Data from Problem 16: On the same date that the CIBC advertised rate...