This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The treasurer of Lynn Lake Credit Union proposes changing the method of compounding interest on ... (Read 173 times)

Deast7027

  • Hero Member
  • *****
  • Posts: 538
on: Jun 6, 2019

Question 1

What is the nominal rate of interest compounded semi-annually which is equivalent to an effective rate of 5.89%?

Question 2

The treasurer of Lynn Lake Credit Union proposes changing the method of compounding interest on premium savings accounts to daily compounding. If the current rate is 4% compounded quarterly, what nominal rate should the treasurer suggest to the Board of Directors to maintain the same effective rate of interest?
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Deast7027 on Jun 6, 2019

Liamb2179

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Jun 6, 2019
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.
Answer Preview
Only 29% of students answer this correctly


Deast7027

  • Member
  • Posts: 538
Reply 2 on: Jun 6, 2019
Wow, this really help

ryhom

  • Member
  • Posts: 366
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Impact of zebra mussels on members of a Great Lake nearshore Impact of zebra mussels on members of a Great Lake nearshore
Crater Lake, Oregon Caldera Crater Lake, Oregon Caldera
Scientific Method Review Scientific Method Review
Delta Method Solution Delta Method Solution
Harry and Gus fish the same lake together from the same boat. Each morning Harry typically ... Harry and Gus fish the same lake together from the same boat. Each morning Harry typically ...
Plot of Land (Modified Offset Method) - Offset lines Plot of Land (Modified Offset Method) - Offset lines
Video: How a Urinalysis is Performed

For a complete list of videos, visit our video library