Question

In: Advanced Math

You invest your $2500 COVID-19 stimulus check into 3 separate accounts. The Certificate of Deposit (CD)...

You invest your $2500 COVID-19 stimulus check into 3 separate accounts. The Certificate of Deposit (CD) pays 4% interest annually. The stock market pays 5% annually. The toilet paper hoarding business pays 10% annually. If the amount spent on the toilet paper hoarding business is $400 more than you spent on the CD, and the total interest gained is $169, how much money did you invest in each venture. Please show all your equations, and the matrix you used to solve this.

Solutions

Expert Solution

NOTE: Matrix inversion method is used.

#Dont forget to rate.

Colby Messinger answered 1 year ago
Next > < Previous

Related Solutions

You decide to invest $1,500 into a certificate of deposit (CD), which is a secure bank...
You decide to invest $1,500 into a certificate of deposit (CD), which is a secure bank investment option. a) If you choose a bank advertising a certificate of deposit with 1.2% APR compounded daily, how much money will be in this account at the end of 4 years? b) If you choose a bank advertising a certificate of deposit with 1.2% APR compounded monthly, how much money will be in this account at the end of 4 years? c) Which...
David is trying to decide whether to invest in a domestic certificate of deposit (CD) with...
David is trying to decide whether to invest in a domestic certificate of deposit (CD) with a 5 percent interest, or to invest in a British CD bearing an interest of 4.5 percent. He knows that the spot exchange rate E$/ € = 1.32, while the expected exchange rate a year from now is 1.4. If David wants to invest $3,000 for a year, which option should he choose? He should invest in the domestic asset because the rate of...
You plan to invest an amount of money in five (5) year certificate of deposit (CD)...
You plan to invest an amount of money in five (5) year certificate of deposit (CD) at your bank. The stated interest rate applied to the CD is 12 percent, compounded monthly and paid out at the end of the five years. How much must you invest today if you want the balance in the CD account to be $30,000 in seven (7) years? (Hint:Need to adjust time and interest rate for monthly compounding - e.g., time is 84 periods,...
You invest $2,800 in a 4-year certificate of deposit (CD) that pays 3.8% interest, compounded annually....
You invest $2,800 in a 4-year certificate of deposit (CD) that pays 3.8% interest, compounded annually. How much money will you have when the CD matures?
1. You invest $20000 in a 7-year certificate of deposit (CD) that pays 5.2% interest, compounded...
1. You invest $20000 in a 7-year certificate of deposit (CD) that pays 5.2% interest, compounded annually. How much money will you have when the CD matures? a. 29140 b. 27280 c. 23670 d. 28520 2. Which of the following statements is most likely correct? a. A perpetuity is an infinite stream of payments in varying amounts occurring at regular or irregular time intervals. b. The cash flows for an annuity do not have to be equal, but they must...
Suppose Zarma Corporation puts $10,000 into a Certificate of Deposit (CD) with an APR of 3%....
Suppose Zarma Corporation puts $10,000 into a Certificate of Deposit (CD) with an APR of 3%. How much will it withdraw after 3 years? a. N =                  I =                PV =                PMT =    FV = P/Y = b. Allocate the FV between:      Total Interest Simple Interest Compound Interest
Many individuals who receive a stimulus check as a result of COVID- 19 will receive a...
Many individuals who receive a stimulus check as a result of COVID- 19 will receive a $1200 direct deposit. Individuals earning between 75k and 99k will only receive a fraction of the $1200 deposit. Suppose Debra earned above 75k in 2018 and 2019 and only receives a $1000 direct deposit stimulus. Using the bank ledger, we have seen in class, and assuming the required reserve ratio is .7, show three bank deposits from the initial round of spending. What is...
Many individuals who receive a stimulus check as a result of COVID- 19 will receive a...
Many individuals who receive a stimulus check as a result of COVID- 19 will receive a $1200 direct deposit. Individuals earning between 75k and 99k will only receive a fraction of the $1200 deposit. Suppose Debra earned below 75k in 2018 and 2019 and receives a $1200 direct deposit stimulus. Use the IS-LM curves as well as the AD-AS curves to show the impacts on the macroeconomy. Be sure to label all axes and curves. In one or more paragraphs...
You invest $2,000 in a certificate of deposit that matures after eight years and pays 5...
You invest $2,000 in a certificate of deposit that matures after eight years and pays 5 percent interest, which is compounded annually until the certificate matures. Round your answers to the nearest dollar. a.How much interest will you earn if the interest is left to accumulate? b. How much interest will you earn if the interest is withdrawn each year?
You are considering investing your money in a bank certificate of deposit (that is, lending money...
You are considering investing your money in a bank certificate of deposit (that is, lending money to a bank). You have received the following quotations from four banks. Which bank should you select? Bank A: APR of 3.48 percent compounded annually Bank B: APR of 3.44 compounded semi-annually Bank C: APR of 3.36 compounded monthly Bank D: APR of 3.38 percent compounded daily Bank E: APR of 3.41 compounded continuously Group of answer choices Bank C Bank E Bank D...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT