Ask Question
BusinessBusiness
9 June, 04:01

Question 3: you inherit $145,000 and decide to invest it for 90 days compounded daily at 6% annual interest. after the 90 days, you are going to invest your new-found money in a startup business.

a. how much interest is earned on this investment?

+2
Answers (1)
  1. 9 June, 04:13
    0
    6% annual leads to $2191.21 interest earned over 90 days (3 months), although the number may vary depending on rounding as banks frequently round down. Interest is calculated as 6%/365 increase in the sum per day, with daily compounding meaning the day's interest is added at the end of the day before calculation of the next day's interest.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Question 3: you inherit $145,000 and decide to invest it for 90 days compounded daily at 6% annual interest. after the 90 days, you are ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The ALG Manufacturing Company has gathered the following information for the month of September: • 6,000 units in the beginning Work-in-Process Inventory (75% complete as to materials, 1/3 complete with respect to the conversion costs) • 60,000
Answers (1)
A bank has $200 million in demand deposits and $150 million in reserves. The reserve ratio is 20 percent. What is the maximum amount of loans the bank can make from its reserves?
No Answers
Assume that markets are efficient. During a trading day, American Golf, Inc., announces that it has lost a contract for a large golfing project that, prior to the news, it was widely believed to have secured.
Answers (1)
1. What is the difference between fixed, variable, and periodic costs?
Answers (1)
Which of the following is an example of a positive, as opposed to normative, statement? a. The federal government should decrease coverage of unemployment benefits to stimulate the economy out of the recession. b.
Answers (2)
New Questions in Business
Pool Line is the manufacturer of a pool cleaning system that has been called by the pool construction industry, "the miracle we have waited a lifetime for." The cleaning system is very effective and recommended by all consumer magazines.
Answers (1)
Use the following example to answer the following questions: Imagine that Stella deposits $25,000 in currency (which she had been storing in her closet) into her checking account at the bank.
Answers (1)
Barr Corp. started a long-term construction project in 20X0. The following data relate to this project: Contract price $4,200,000 Costs incurred in 20X0 $1,750,000 Estimated costs to complete $1,750,000 Progress billings $900,000 Collections on
Answers (1)
Bob contributed a building with an adjusted basis to Bob of $50,000 and a fair market value of $150,000 subject to a mortgage of $120,000 in exchange for a 30 percent interest in the Alpha Partnership. Alpha will assume the mortgage on the building.
Answers (1)
Nareen is single, 68 years old, and reports the following in 2018: a. $12,000 alimony received (divorced in 2010) b. $82,520 Schedule C profit c. $3,500 SEP (self-employed pension) plan contribution d. $7,150 qualified dividends e.
Answers (1)
Home » Business » Question 3: you inherit $145,000 and decide to invest it for 90 days compounded daily at 6% annual interest. after the 90 days, you are going to invest your new-found money in a startup business. a. how much interest is earned on this investment?
Sign Up Forgot Password?