Bank 1 is offering interest rate of 8.4% (compounds semiannually) on fixed deposits. Bank 2 is offering interest rate of 8.3% (compounds monthly) on fixed deposits. An investor invested amount of $15,000 for five years in the bank that is offering highest effective annual rate. What is the accumulated amount at the end of five years? a. $22,683 b. $22,634 c. $22,451 d. $22,982

You deposit $1,000 in the bank at an annual interest rate of 8%. Interest is compounded once per year. In one year's time you have $ ------ In two year's time you have $ ------- Enter numbers rounded to two decimal places as necessary.

The following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit. $2500 at 7% compounded daily for 10 years. What is the compound amount? $ (Round to the nearest cent.)

You borrowed $200,000 from the Bank of Nova Scotia. The loan is to be repaid at the end of five (5) years. The bank is to receive 8% interest on the loan balance that is outstanding. i. Calculate the yearly payment on a $200 000 loan. ii. Prepare an amortization schedule for this loan. iii. What is the loan balance just after the end of year two (2)? iv. What is the total interest paid over the life of the loan? v. What is the effective rate of interest on the loan if interest is compounded quarterly?