Future simple interest value of a lump sum. A married couple, Mr. and Mrs. Zamudio, have saved a good amount thanks to their good financial decisions. Their banker offers them a new product consisting of a deposit in pesos that earns 8.75% simple annual interest, based on 360 days. If Mr. and Mrs. Zamudio have $743,000.00: 1,800 euros and 18,500 dollars, how much will they earn in 60 days? The peso/euro exchange rate is 23.05 and the peso/dollar exchange rate for the day of the operation is 20.95.
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2.- Future simple interest value of a lump sum. A married couple, Mr. and Mrs. Zamudio, have saved a good amount thanks to their good financial decisions. Their banker offers them a new product consisting of a deposit in pesos that earns 8.75% simple annual interest, based on 360 days. If Mr. and Mrs. Zamudio have $743,000.00: 1,800 euros and 18,500 dollars, how much will they earn in 60 days? The peso/euro exchange rate is 23.05 and the peso/dollar exchange rate for the day of the operation is 20.95.
Note:
In the image, this is the original exercise, it is in Spanish, but it is easy to understand.
Very important Note:
It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.
TO CONSIDER THE YEAR AS 360 DAYS (WHICH IS COMMERCIAL)
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