2. A manager of a small company secured a $45,000 to buy a new truck that is to be delivered in 61 days. He thought it would be wise to invest this amount in a principal-safe account that yields 8.75% interest, with a brokerage fee of $80? How much would he gain if he did?

2. A manager of a small company secured a $45,000 to buy a new truck that is to be delivered in 61 days. He thought it would be wise to invest this amount in a principal-safe account that yields 8.75% interest, with a brokerage fee of $80? How much would he gain if he did?

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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2. A manager of a small company secured a $45,000 to buy a new truck that is to be delivered in
61 days. He thought it would be wise to invest this amount in a principal-safe account that yields
8.75% interest, with a brokerage fee of $80? How much would he gain if he did?

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