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- What is the U.S 6 month interest rate?If a person wants to invest $5,000.00 now for the next 10 years plans to withdraw $7,500.00 after 10 years, what is the exact interest rate he should ask for his investment?How can we calculate the effective interest rate, altering the period value?altering the period value?
- How can we compute the effective interest rate for any duration of time?Trevor's starting salary at his new job is $40,000. His company gives a performance raise of 5% each year. If Trevor continues in the same position and always receives the performance raise, in how many years will he double his salary?What is the effective annual interest rate?
- How long in years will money double its amount if invested at 10% simple interest?What does the statement “interest rate 10%” signify? a The rate is effective per year. b The rate is nominal per year. c The rate is nominal per quarter. d The rate is effective per quarter.How much should you put into 6% saving account in order to have 100,000 in five years?