Savings are expected to be 0 at the end of the first six months, to be $3,000 at the end of the second six months, and to increase by $3000 at the end of each six-month period thereafter, for a total of five years. It is desired to find the equivalent uniform amount at the end of each of the ten six-month periods if the nominal interest rate is 14% compounded semiannually. 6,102 11.838 $ 33.776 83,1485

A deposit X is to be made today and a second deposit, which is twice the first, is to be made 3 years from now, to provide for withdrawals of $1,000 two years from now and $6,500 10 years from now. At an effective annual interest rate of 7%, calculate the size of the first deposit.

A deposit account pays 10% per annum with continuous compounding. Consider the following statements. I. The equivalent semi-annually compounded annualized interest rate is 10.2542%. II. The interest paid at the end of the first 3 months on an initial investment of $1,000,000 in the deposit account is $51,271 (rounded to the nearest dollar) Which of the following is correct? Question 9Answer a. Statement I is correct, Statement II is incorrect. b. Both statements are correct. c. Both statements are incorrect. d. Statement I is incorrect, Statement II is correct.

If the nominal interest rate is 12% per year compounded monthly, then the effective interest rate per six-months will be m r (¹+)" m equal to 1+ - 1, where OA. r= 12% and m = 12; OB. r= 1% and m = 12; OC. r= 6% and m = 6; O D. r= 6% and m = 2; O E. r= 1% and m = 6;