Assume a bank offers an effective annual rate of 5.50%. If compounding is monthly what is the APR?
Assume a bank offers an effective annual rate of 5.50%. If compounding is monthly what is...
Assume a bank offers an effective annual rate of 5.64%. If compounding is quarterly what is the APR? SHOW WORK
Assume a bank offers an effective annual rate of 7.12%. If compounding is quarterly what is the APR? Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434)) Please show all steps for better understanding! Thanks!
a. A bank offers 5.00% on savings accounts. What is the effective annual rate if interest is compounded quarterly? b. A bank offers 5.00% on savings accounts. What is the effective annual rate if interest is compounded monthly?
EFFECTIVE ANNUAL RATE EAR = An interest rate that reflects annualizing with compounding figured in. EAR = (1 + APR/m)m - 1, where APR = Annual Percentage Rate and m = compounding frequency A loan is offered with monthly payments and a 10% APR. What is the loan’s Effective Annual Rate: EAR = ?
21) If a bank pays a 3.5% nominal annual rate, with monthly compounding, on deposits, what effective annual rate does the bank pay? a. 2.02% b. 2.53% c. 3.04% d. 3.56% e. 4.07%
what effective annual rate is equivalent to a nominal rate of 14% assuming monthly compounding?
If a bank pays a 6% annual percentage rate, with quarterly compounding, on deposits, what effective annual rate does the bank pay?
7) A bank offers a credit card with an APR of 18 percent, with quaterly compounding. What is the effective annual rate (EAR)? 8)Which of the following investments will attain the highest future value? a) $1,300 invested at an annual interest rate of 6% for 12 years b) $1,500 invested at an interest rate of 4.75% (monthly compounding) for 10 years c) $1,300 invested at an interest rate of 3.25% (quaterly compunding) for 10 years 9)All other things held equal,...
Q3 What is the effective annual interest rate from a bank that offers annual interest of 10% compounded quarterly? A) 10% B) 11.25% C) 10.38% D) 40%
The bank offers a weekly interest rate of 0.1%. What is the equivalent effective annual interest rate? (Round to 2 decimals.)