The effective annual interest rate is given to be 19.2%. What is the nominal ineterest rate per year if continuous compounding is being used?
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The effective annual interest rate is given to be 19.2%. What is the nominal ineterest rate per year if continuous compounding is being used?
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- Hi! If your credit card's APR is 24% compounded daily, what is the effective annual interest rate that you are paying? Is it APY=(1+ APR/C)^C - 1? Which gives me 27.11% Thanks.Find the equivalent annual payment of the following obligations at 20% interest rate. End of Year Payment 1 P 8,000 2 P 7,000 3 P 6,000 4 P 5,000. Determine the exact simple interest on P1,000 for the period from January December 31, 2012 at 12% interest rate.
- A man deposits a uniform amount of P 2,500 at the end of each year with interest of 2.50% compounded annually. Find the future worth factor for uniform-series payment after 20 years.A machine was purchased for $ 8,000, with an estimated useful life of 10 years, and it has a scrap value of $ 1,000 and rate of interest = %1O. Calculate the following: The book value at the end of the ninth year using Sum of the Years- Digits method. * The book value at the end of the fourth year using constant percentage method. * The depreciation installment for the sixth year using straight line method. *. Determine the exact simple interest on P 5,000.00 for the period from May 16 2016 to October 18, 2022 if the rate of interest is 15%
- A debt of P100 701.30 is to be paid by 10-end of the year payments. The first payment begins at the end of the 10th year. Find the yearly payment if rate of interest is 8% compounded yearly.#20,000.00 borrowed today for 2 years at 5% compound interest will result in how much total interest at the end of Year 2?Determine the equivalent amount pf money at the beginning of the second year if interest is 6% per year, compounded monthly
- Determine the effective interest rates corresponding to the nominal rates: (a) 7% compounding monthly, (b) 16.5% compounding monthly, (c) 6% compounding semiannually, (d) 9% compounding quarterly.What will be the effective annual interest rate if the nominal interest is 9.53102%?Solve Problem 20.5 using Excel.