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Given r=12%, compounded monthly for 8 years; find n (number of months) and i (rate per month). Write i in decimal form.
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- Find the effective rate corresponding to the given nominal rate. (Use a 365-day year. Round your answer to two decimal places.) 2%/year compounded daily __________%/yearWhat nominal rate compounded monthly is equivalent to 20% compounded annually? Round off your answer to six decimal places. Show a solutions.Find the effective rate corresponding to the given nominal rate. (Use a 365-day year. Round your answer to two decimal places.) 9%/year compounded quarterly %/year
- If the EAR= 6.25 percent, and there are 115 compounding periods per year, what is the APR (in percent)? Answer to two decimals.Find the APY corresponding to the following nominal rate. 9% compounded quarterly The APY is%. (Type an integer or a decimal. Round to the nearest hundredth as needed.)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:
- Use the given annual interest rate r and the compounding period to find i, the interest rate per compounding period. 5.45% compounded monthly =% per month (Type an integer or decimal rounded to the nearest thousandth as needed.)What is the effective annual rate (EAR) (in percent) if the stated rate, or APR, is 2.95 percent and there are 207 compounding periods per year? Answer to two decimals. 4Find the effective rate corresponding to the given nominal rate. (Use a 365-day year.) 8%/year compounded semiannually %/year
- Find the APY corresponding to the following nominal rate. 7% compounded semiannually The APY is %. (Type an integer or a decimal. Round to the nearest hundredth as needed.)You invest B, dollars in an account that draws interest at a monthly rate of r as a decimal, compounded monthly. After t months, the balance in dollars is given by the following. B = B,(1 + r* (a) Let a denote the APR as a decimal. Then the monthly rate as a decimal is equal to a divided by 12. Express the balance in terms of the initial investment, the number of months, and the APR as a decimal. B(t) - (b) Let a denote the APR as a decimal, and let A denote the APR as a percentage. Then a is equal to A divided by 100. Express the balance in terms of the initial investment, the number of months, and the APR as a percentage. B(t) - (c) Note that y years is equivalent to 12y months. Express the balance in terms of the initial investment, the number y of years, and the APR as a percentage. B(y) =Given the rate per compounding period, find r, the annual rate 0.25% per month