International Financial Management
14th Edition
ISBN: 9780357130698
Author: Madura
Publisher: Cengage
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Based on the data presented above, what is the times interest earned ratio? (Round to two decimal places.)
Suppose you invest $1,500 in an account paying 6% interest per year.
How much of this balance corresponds to interest on interest earned in the last (7th) period? (Dollar figures should be approximated to the nearest cent of a dollar, while rates should be expressed in percentage terms without using the "%" symbol and approximated to the nearest second decimal place.)
If the annual interest rate is 8%, what is the daily interest rate that would be used as the "r" in the time value of money equation?
Hint: the equation uses the decimal equivalent of the percent
Enter your answer to four decimal places.
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