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.)

Q: Give the number of periods, n, and the interest rate per period, i, for the following situation.…

A: n = number of periods i = interest rate per period

Q: Find the effective rate of  interest if the nominal rate is 12 % compounded bi - monhtly.

A: Annual Nominal interest rate = 0.12 Number of compounding in a year (n) = 6 (i.e. 12 months / 2)  Bi…

Q: Use the compound-interest formula to find the account balance A, where P is principal, r is interest…

A: Future  Value: A present asset's future value, abbreviated as FV, is the value that asset is…

Q: A deposit of $250 earns the following interest rates:   10 percent in the first year. 8 percent in…

A: Interest earned is the amount earned on the invested amount over the period of investment. It can be…

Q: You are told the effective interest rate on an account is 3.9%, if the interest is compounded…

A: Effective interest rate takes into consideration the compounding frequency. Annual percentage rate…

Q: Suppose you deposit $1,030.00 into an account 4.00 years from today. Exactly 13.00 years from today…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…

Q: Compute the number of years (t) if future value (FV) = $12,029,  present value (FV) = $1,826, and…

A: Period required for the future value can be determined by using formula for future value or present…

Q: What is the equivalent rate of interest (in %) for a discount rate of 7.9% for 77 days? Round your…

A: Interest rate is referred as the percentage of the principal charged through the lender regarding…

Q: Suppose you invest $1,500 in an account paying 6% interest per year. How much of this balance…

A: Interest earned refers to the profit over the investment earned by the investors at a specified rate…

Q: when compounding takes place once annually, is the effective interest equal to nominal interest?

A: Answer: Comparison of nominal interest rates is possible when the compounding periods are same, for…

Q: The nominal interest rate on a loan is 12.5% and inflation is 3%. What is the real interest rate?

A: Information Provided: Nominal Rate = 12.5% Inflation = 3%

Q: At 7.24% interest, how long does it take (in years) to quadruple your money. Answer to two decimals.

A: The concept of TVM refers to the interest-earning capacity of money because money earned earlier is…

Q: What was the annual rate of simple interest offered on a savings of $7106 if the amount of interest…

A: What was the annual rate of simple interest:- Given information:- Savings(P)…

Q: If i= 14.8% per year, compounded monthly, What is the effective interest rate per semiannual? (ABET…

A: Lets understand the basics For calculating semi annual interest rate from monthly compounded…

Q: A deposit of $350 earns the following interest rates: 8 percent in the first year. 6 percent in the…

A: Time value of money is the concept widely used by companies and individuals to determine the current…

Q: What rate (in %) compounded monthly is equivalent to simple interest rate of 6.3% for 6 years? Round…

A: Simple interest rate p.a. = 6.3% So for 6 years, effective interest rate = 6.3%*6 = 37.8% No. Of…

Q: What is the EFF% for stated interest rate of 13% with monthly compounding? (round to the nearest…

A: Interest Rate = r = 13%Compound = n = Monthly = 12

Q: The real interest rate is 5% and the inflation rate is 3%. What is the nominal interest rate? Round…

A: nominal interest rate = real interest rate + inflation rate

Q: What would be the annual percentage yield for a savings account that earned $54 in interest on $750…

A: Investment amount = $750Interest earned = $54

Q: The stated interest rate on your account is 12.5%, interest paid monthly. Your effective rate of…

A: Nominal interest rate is 12.5% paid monthly Compounding frequency "n" is 12  To Find: Effective…

Q: What is the future value of $1,670 in 14 years assuming an interest rate of 8.5 percent compounded…

A: A study that proves that the 1value of money today is higher than the future value of money is term…

Q: Suppose you deposit $1,016.00 into an account 4.00 years from today. Exactly 13.00 years from today…

A: Present Value = pv = $1016Time = t = 13 - 4 = 9 YearsFuture Value = fv = $1741

Q: Suppose that a savings account pays an effective rate of interest of 11.7 percent. What is the…

A: Equivalent Annual Compound Interest rate is the Actual rate of return calculated after compounding…

Q: If the compounded interest rate on 75 days time deposit is %16, calculate the simple rate?

A: Simple interest is a method of calculating the proportion of interest paid on an amount over a…

Q: Calculate the quarterly compounded rate (j4) equivalent to a monthly compounded rate of 8.70% (j12).…

A: Given: Monthly compounded rate =8.70% Effective annual rate = (1+ rm/ n)n -1 where rm = rate for…

Q: If $27895 is borrowed for 5 months and P688 is paid, then the annual simple interest rate is…

A: Simple interest is one of the form of interest in which interest is charged on original investment…

Q: The annual interest rate is 12%. Find (a) the semi-annual rate, (b) the quarterly rate, (c) the…

A: semi-annual rate is the rate that is compounded twice a year (i,e) for every six months is called…

Q: The n-year spot rate of interest, in, can be represented by: = 0.08 - 0.06 x exp(-0.1n) Calculate,…

A: In finance, a forward rate denotes an agreed-upon interest or exchange rate set today for a future…

Q: what is the equation to get the 0.007984 monthly rate.

A: The Rate function in the excel is used in the solution.

Q: The (blank) interest rate is referred to as APR and the (blank) interest rate is the true rate…

A: Effective rate ( EAR) FORMULA: EAR =1+APRMM-1M = frequency of compounding

Q: Suppose you deposit $ 1296 today and your account will accumulate to $ 5637 in 9 years. What is the…

A: Maturity Amount, A  = $ 5637Principal deposited, P = $ 1,296Time period, T = 9 years

Q: ompute the number of years (t) if future value (FV) = $10174,  present value (FV) = $1498, and…

A: Future value of the amount is the amount that being deposit today and amount of interest accumulated…

Q: When $8,600 is invested in a savings account paying simple interest for the year, the interest, i in…

A: Given information,The equation i = 8,600r represents a simple interest calculation. It states that…

Q: What is the effective interest rate corresponding to a nominal annual rate of. (Round your…

A: Whenever the impacts of compounding over time are considered, the effective annual interest rate is…

Q: An amount of $124 is paid at the end of every month into an account. If the nominal interest rate is…

A: Here, Monthly Amount is $124 Interest Rate is 3.02% Compounding Period is Semi Annual Payment Period…

Q: From this partial advertisement: $86.83 per month for 60 months $3,700 used car cash price $50 down…

A: Car or any vehicle is purchased on loan and these loans are paid by equal monthly installments that…

Q: Suppose the real rate is 2.32 percent and the inflation rate is 2.68 percent. What rate (in percent)…

A: Real rate of return = 2.32% or 0.0232Inflation rate = 2.68% or 0.0268We need to calculate the…

Q: f i 5.8% per semiannual, compounded monthly, What is the nominal quarter rat

A: solution concept semi annual rate means the rate that is quoted for 6 months in compound interest…