<br/> -Sue obtains a one year loan of $3000 based on an annual interest
rate of 12 percent. What would be the monthly payment to pay it off in one year?
-Kelly deposits $1000 in a three year GIC with four percent interest compounded annually. How much interest would she earn by maturity? (correct answer is 124.86, can you show the me solution how to get 124.86?) Thank you appreciate it!
-Travis has invested $4,500 in a one year GIC at 2.1 percent, compounded annually. How much will Travis have when the GIC matures?
-Identify the three types of depository institutions. Select all that apply.IA.
Finance and lease companies
Trust and loan companies
G. Mutual fund companies
Short answer question:
(Blank) are financial institutions that accept deposits in (Blank) and use the funds to provide business and personal loans. (blank) are financial institutions that, in addition to providing services similar to a bank, can provide financial planning services, such as (Blank) and acting as trustee in the administration of trust accounts. (Blank) are provincially incorporated co-operative financial institutions that are owned and controlled by their (Blank).. ***there was no choices given on blanks***
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