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Author Question: A bank pays a quoted annual (nominal) interest rate of 8%. However, it pays interest (compounded) ... (Read 412 times)

james

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Question 1

Your grandparents bought their collection of one hundred silver dollars at face value in 1952. If they appreciated at a rate of 3% per year, how much were they worth in 2006?
◦ $493.41
◦ $262.00
◦ $479.04
◦ $508.21
◦ $518.00

Question 2

A bank pays a quoted annual (nominal) interest rate of 8%. However, it pays interest (compounded) daily using a 365-day year. What is the effective annual rate of return?
◦ 7.86%
◦ 7.54%
◦ 8.57%
◦ 8.33%
◦ 9.21%


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Marked as best answer by james on Apr 25, 2021

Shshxj

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james

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Reply 2 on: Apr 25, 2021
Gracias!


Bigfoot1984

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Reply 3 on: Yesterday
Excellent

 

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