Guaranteed account to fully fund this request

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Reference no: EM132058664

1. Suppose you are the executor of your Aunt's estate, and she desires to provide her daughter with $32,000 at the end of each year for the next 21 years. If the bank provides a guaranteed account which earns 4.2% per year simple interest, how much money should be deposited into this guaranteed account to fully fund this request? (Answer to the nearest dollar)

2. The exchange rates in New York are: $1 = AUD 1.2958 and $1 = £0.6659 A dealer is offering a quote: AUD 1 = £0.7896. What is the profit you can earn on $15,386 using triangle arbitrage?

Reference no: EM132058664

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