Answered: How much must be placed in a two-month…

How much must be placed in a two-month term deposit earning 4.8% in order to earn $275 interest? Group of answer choices $34,375.00 $53,333.33 $23,333.33 $12,500.00 $5729.17

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

How much must be placed in a two-month term deposit earning 4.8% in order to earn $275 interest? Group of answer choices $34,375.00 $53,333.33 $23,333.33 $12,500.00 $5729.17

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