Question

Convert 9% annual rate compounded monthly into annual rate, compounded daily

Answer #1

a. Convert 3% simple monthly rate into simple annual rate. b.
Convert 6% simple annual rate into annual rate, compounded monthly.
c. Convert 9% annual rate compounded monthly into annual rate,
compounded daily. d. Convert 12% annual rate, compounded weekly
into simple annual rate. e. Convert 15% simple annual rate into
annual rate, compounded semi-annually.
Show Work

a. Convert 3% simple monthly rate into
simple annual rate.
b. Convert 6% simple annual rate into
annual rate, compounded monthly.
c. Convert 9% annual
rate compounded monthly into annual rate, compounded daily.
d. Convert 12% annual rate, compounded
weekly into simple annual rate.
e. Convert 15% simple annual rate into
annual rate, compounded semi-annually.
Show all work. Label and clearly
explain your answer.

What nominal rate, compounded daily, is equivalent to 3.4%
compounded monthly?

Convert an interest rate of 2% per quarter compounded monthly
into a nominal interest rate over the following time periods:
Quarter
Year
Semiannual
Decade
Please include any formulas used. Thanks in advance

For an annual interest rate of 11% compounded bi-monthly what
it will be the effective annual interest rate?
For an annual interest rate of 12% compounded semi-annually
what it will be the effective annual interest rate?
For an annual interest rate of 12% compounded every 4 months
what it will be the effective annual interest rate?

Convert 15% simple annual rate into
annual rate, compounded semi-annually.
Show all work. Label and clearly
explain your answer. No excel or calculators.

Some amount of principal is invested at a 7.4% annual rate,
compounded monthly. The value of the investment after 7 years is
$2185.76. Find the amount originally invested.
Round to two decimal places
AND
Nathan invests $1000 into an account earning interest at an
annual rate of 4.7%, compounded annually. 4 years later, he finds a
better investment opportunity. At that time, he withdraws his money
and then deposits it into an account earning interest at an annual
rate of...

An interest rate of 17% per year, compounded monthly is (circle
one)
a.Effective Annual Rate
b.Nominal Annual Rate
c.Effective Monthly Rate
d.Nominal Monthly Rate

Calculate the monthly finance charge assuming a 20% annual
interest rate and the following average daily balances.
Days
Balance
9
$1,650
11
$9,000
3
$1,700
8
$3,800
Total
31

Compute the effective annual rate of interest
a) for 6% compounded monthly
b) at which $1100 will grow to $2000 in seven years if
compounded monthly

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