850 and 900 were paid on 1st March 2018 and 25th June 2018. Find the accumulated value at the end of year 2018, given that the rate of simple interest is 7% per annum, using ordinary simple interest.
1
Expert's answer
2018-07-12T11:54:08-0400
If 850 and 900 were paid on 1st March 2018 and 25th June 2018, given that the rate of simple interest is 7% per annum, using ordinary simple interest, then the accumulated value at the end of year 2018 is FV = 850*(1 + 0.07*270/365) + 900*(1 + 0.07*185/365) = 1825.95.
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
Finding a professional expert in "partial differential equations" in the advanced level is difficult.
You can find this expert in "Assignmentexpert.com" with confidence.
Exceptional experts! I appreciate your help. God bless you!
Comments
Leave a comment