Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a bank pays an interest of 4.5% for a three month

A bank pays an interest of 4.5% for a three month term deposit. Calculate the...

80.2K

Verified Solution

Question

Accounting

A bank pays an interest of 4.5% for a three month term deposit. Calculate the amount that Stokes must invest to earn an interest of $100.00. Round to nearest 100th. Show your work.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A drug company tested three formulations of a pain relief medicine for migraine headache sufferers. For the...

Basic Math
Q

Many employers are monitoring employees to see how many and what types of phone calls they...

Operations Management
Q

Honeywell Bakery has been offering a new vegan cupcake and wants to know the demand in...

Advance Math
Q

Activity Predecessor Optimistic Most Likely Pessimistic A 4 7 10 B 2 9 10 C A,B 2 5 8 D C 16 19 28 E C 6 9 24 F E 1 7 13 G C 4 10 28 H D,F 2 5 14 I G,F 5 8 17 J H,I 2 5 8 Determine the expected completion time for each activity. Construct the AON network for the activities of this...

General Management
Q

Based on the information presented in this lesson which of the following does this picture...

Biology
Q

When the diffraction pattern from a certain slit illuminated with laser light lambda 6330 angstrom...

Physics
Q

The given family of functions is the general solution of the differential equation on the...

Basic Math
Q

3 7 Peanut Allergies In the last 10 years the prevalence of peanut allergies has...

Statistics
Q

Assume that the Gamma partnership agreement gave Steely 60% and Breck 40% of partnership income...

Accounting
Q

Ashley Panda lives at 1310 Meadow Lane, Wayne, OH 43466, and her Social Security number...

Accounting
Q

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the...

Accounting
Q

Karen converted her principal residence to a rental property in February, 2014. She paid $187,000...

Accounting