In 2014, Bank A paid 3% interest, compounded daily, on a 8-year CD, while Bank B paid 3% compounded quarterly. a. What are the effective rates for the two CDs? Use 365-day year. b. Suppose $4000 was invested in each of these accounts. Find the compound amount after eight years for each account. ------------------------------------------------------------------------------------------------ a. The effective rate for Bank A is           % (round to 3 decimal places) The effective rate for Bank B is              % b. For Bank A, the compound amount after 8 years is $          For Bank A, the compound amount after 8 years is $ (round to the nearest cent)

Assume that a one-year CD purchased for $1000 pays an APR of 6% that is compounded semi-annually. How much is in the account at the end of each compounding period? (Calculate the interest and compound it each period rather than using the compound interest formula. Round your answers to the nearest cent.) first period     $  second period     $  How much total interest does it earn? (Round your answer to the nearest cent.)$ What is the APY? %

Answer the following Compound Interest problem using the provided formula ONLY. Show your complete solution.    7. Compound Interest   A. If the sum of P 12,000 (pesos) is deposited in an account earning interest rate of 9% compounded quarterly, what will it become after 1 year?    B. In the previous problem, what is the effective rate?   C. What is then the equivalent nominal interest rate if compounded monthly?

What amount must be deposited at the bank today to grow to $600 in 4 years, assuming 10% interest compounded semiannually? Please identify which table you used.

A man bought an equipment costing P60,000 payable in 12 quarter payments, each installment payable at the beginning of each period. The interest is 24% compounded quarterly. What is the amount of each payment? P6,751.53 P7,371.91 P5,170.12 P8,241.74

What is the nominal annual rate of interest compounded semi-annually if deposits of $224 made each month for 4.0 years accumulate to $12,700? The nominal annual rate of interest is % compounded semi-annually. (Round to two decimal places as needed.)

Using Table 11-1, compute the amount of compound interest (in $) earned in 1 year and the annual percentage yield (APY) for the investment. (Round your answers to two decimal places.) Compound Interest Earned in 1 Year Annual Percentage Yield (APY) Nominal Interest Principal Rate (%) Compounded $33,000 12 monthly $ % Need Help? Read It 3 Type here to search

Money borrowed today is to be paid in 6 equal payments at the end of 6 quarters. If the interest is 12% compounded quarterly, how much was initially borrowed if quarterly payments is Php2,000? A. P10,834.38 B. P10,382.90 C. P10,586.99 D. P10,200.56

Suppose a certain manufacturer deposits $3000 at the beginning of each three month period or six years in an account paying 8% interest, compounded quarterly. How much will be in the account at the end of the 6 year period ?

A debt of $33,000 is repaid over 13 years with payments occurring monthly. Interest is 10% compounded semi-annually. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 81? (c) What is the interest paid on payment 82? (d) How much principal is repaid in payment 82? (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The outstanding principal is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The interest paid is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The principal repaid is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)