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Author Question: You can deposit your savings at the Darlington National Bank, which offers to pay 12.6 percent ... (Read 119 times)

altibaby

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on: Apr 25, 2021

Question 1

When you turned 20, you deposited $1,500 into an account paying interest that is compounded quarterly. You just turned 30, and there is now $2,233.30 in the account. What nominal annual interest rate is the account paying?
◦ 1.00%
◦ 4.00%
◦ 4.06%
◦ 16.24%
◦ 3.75%

Question 2

You can deposit your savings at the Darlington National Bank, which offers to pay 12.6 percent interest compounded monthly, or at the Barlett Bank, which will pay interest of 11.5 percent compounded daily. (Assume 365 days in a year.) Which bank offers the higher effective annual rate?
◦ Darlington National Bank
◦ Barlett Bank
◦ Both banks offer the same effective rate.
◦ Cannot be determined from the information provided.
◦ Workable only if the banks use the same compounding period.
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Marked as best answer by altibaby on Apr 25, 2021

helenmarkerine

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Reply #1 on: Apr 25, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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altibaby

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Reply 2 on: Apr 25, 2021
YES! Correct, THANKS for helping me on my review

lkanara2

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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