1 you have 7500 to deposit regency bank offers 15 percent, Ask an Expert

Finance

1. You have $7500 to deposit. Regency Bank offers 15 percent per year compounded monthly (1.25 percent per month), while King Bank offers 15 percent but will only compound annually. How much will your investment be worth in 17 years at each bank?

2. An investor purchased an NCD a year ago in the secondary market for $980,000. He redeems it today and receives $1,000,000. He also receives interest of $30,000. The investor's annualized yield on this investment is

a. 2.0 percent.

b. 5.10 percent.

c. 5.00 percent.

d. 2.04 percent.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92724840

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