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

Author Question: What nominal rate of interest-compounded quarterly will have to be earned on a savings account for ... (Read 201 times)

SAVANNAHHOOPER23

  • Hero Member
  • *****
  • Posts: 542
on: Jun 6, 2019

Question 1

At what nominal rate of interest compounded quarterly will $ 13 000.00 earn $8407.27 in interest in six years? (nearest hundredth)
◦ 1.83%
◦ 18.4%
◦ 2.10%
◦ 7.33%
◦ 8.4%

Question 2

What nominal rate of interest-compounded quarterly will have to be earned on a savings account for it to grow from $1525 to $1955 over a period of 21 months?
◦ 15.45%
◦ 12.45%
◦ 10.45%
◦ 3.61%
◦ 14.45%
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 SAVANNAHHOOPER23 on Jun 6, 2019

brittanywood

  • Sr. Member
  • ****
  • Posts: 355
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 39% of students answer this correctly


SAVANNAHHOOPER23

  • Hero Member
  • *****
  • Posts: 542
Reply #2 on: Jun 6, 2019
Thanks


brittanywood

  • Sr. Member
  • ****
  • Posts: 355
Reply #3 on: Jun 6, 2019
Welcome :)


« previous next »
 

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

How to solve rate problems leading to fractional equations (Question 3) How to solve rate problems leading to fractional equations (Question 3)
What rate, compounded once every 3 years, is equivalent to 9% effective rate? What rate, compounded once every 3 years, is equivalent to 9% effective rate?
What principal will earn $77.14 interest at 6.65% p. What principal will earn $77.14 interest at 6.65% p.
A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ... A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ...
Irene Manufacturing uses a predetermined overhead allocation rate based on a percentage of ... Irene Manufacturing uses a predetermined overhead allocation rate based on a percentage of ...
Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in ... Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in ...
Video: Phlebotomy

For a complete list of videos, visit our video library