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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Problem 3 To withdraw the following $ 1,000 payment series in the figure, determine the minimum deposite (P) you should make now if your deposits earn an interest rate of 10 % compounded anually. Note that you are making another deposite at the end of year 7 in the amount of $ 500. With the minimum deposit P, your balance at the end of year 10 should be 0. SLO00 • 10 $ 500 A. P= $ 4,912 B. P= $ 4,465 C. P= $ 5,374 D. P=$ 5,912

Saved The rates offered by a credit union for its non-redeemable 90- to 365-day GICs are shown in the following table: Deposit Amount $10,000 to $24,999 Rate 2.5% $25,000 to $59,999 $60,000 to $99,999 3.0% 3.2% Early redemption is permitted but will result in the rate being reduced to 1.75%. How much more interest will a 91-day $20,000 term deposit earn if it is held until maturity than if it is redeemed after 80 days? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.) Extra interest earned $ SA