Given an interest rate of 4.0% compounded monthly, determine the effective rate of interest. Answer as a percentage rounded to two decimal places. reff = Check %
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- A saving account earns compound interest at an annual effective interest rate i. Given that d12,41 = 0.08, Find i1,51- %3DThe principal P is borrowed at simple interest rate r for a period of time t. Find the loan's future value, A, or the total amount due at time t. P=$4000, r= 7.5%, t= 9 months The future value is $ (Simplify your answer. Type an integer or a decimal.)Let y be the balance in an account if you deposit $5000 for x years at 4% APR compounded monthly. USE ALL DECIMALS a) Write the formula for y = f(x) b) Then rewrite the formula as an annual compounding (APY) formula y = c) The APY (clear from part b) is:
- Compute the periodic interest rate, as a decimal, given a nominal interest rate and compounding period. Round your answers to four decimal places. a. 6.04%, monthly Periodic Interest Rate (as a decimal) = !3! b. 4.43%, daily Periodic Interest Rate (as a decimal) c. 9.2%, annually Periodic Interest Rate (as a decimal) -Use factors and a spreadsheet to determine the interest rate per period from the following equation: 0=-36,000+8,000 (P/A,i*,5) + 8,000 (P/F,i*,8) (Round the final answer to three decimal places.) The interest rate per period is | %.The n-year spot rate of interest, in, can be represented by: = 0.08 0.06 x exp(-0.1n) - Calculate, to 4 decimal places (in percentages), the 3-year forward rate at time 3, f 3,3-
- Use the compound-interest formula to find the account balance A, where P is principal, r is interest rate, n is number of compounding periods per year, t is time, in years, and A is account balance. P r compounded t 1 1 $53,530 Quarterly 22 C The account balance is approximately $. (Simplify your answer. Type an integer or decimal rounded to two decimal places as needed.)Find the loan principal. Rate Time (Days) Interest Principal 12% 140 $11.40 ? The loan principal is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needeAssume an effective compound interest rate i= 3% per annum. Compute the following equivalent rates. In each case, enter your answer as a percentage. a) The nominal interest rate payable semi-annually Number % Enter an answer correct to 4 decimal places. b) The effective interest rate payable quarterly Number Enter an answer correct to 2 decimal places. c) The effective rate of discount per annum Number Enter an answer correct to 2 decimal places. d) The nominal rate of discount payable monthly Number % Enter an answer correct to 4 decimal places.
- What is the monthly interest rate if an annual rate is 13.4%? The monthly interest rate is %. (Type an integer or decimal rounded to two decimal places as needed.)Using the simple interest formula I= Prt, compute the amount of interest earned on $1141.00 at 8.06% p.a. for 193 days. The interest eamed is $. (Round the final answer to the nearest cent as needed. Round all internadiate values to six decimal places as needed.) Enter your answer in the answer box.Compute the present values of the following annuities first assuming that payments are made on the last day of the period and then assuming payments are made on the first day of the period: (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) Present Value Present Value Interest Rate (Payment made on last day of period) (Payment made on first day of period) Payment Years (Annual) 748.09 8. 14 % 8,668.26 14 7 21,022.93 24 70,412.54 32