For an APR of 9% per year, if the interest is compounded daily, determine the nominal...
For an APR of 10% per year, if the interest is compounded weekly, determine the nominal rate per (a) 6 months and (b) 2 years. The nominal interest rate per 6 months is %. The nominal interest rate per 2 years is %.
4. Find the effective bimonthly interest rate equivalent to: (a) nominal annual interest of 9%, compounded 6 times per year; (b) nominal annual discount of 6%, compounded quarterly; (c) 1/2 nominal annual interest of 8%, compounded continuously.
Determine (within one basis point) the nominal annual interest rate (APR) compounded weekly which is equivalent to a nominal annual rate (APR) of 7.3%/year compounded quarterly, (Indicate your answer as a percentage without the symbol: for instance, if your answer is 10%/year, then simply write 10.)
A nominal interest rate of 10% per year, compounded monthly, is most closely: 1% per month 5.11% per six months 10% per year 4.98% per six months
a. For an interest rate of 100% per year compounded continuously, calculate the effective daily, weekly, monthly, quarterly, semiannually, and annually interest rates. b. An investor requires an effective return of at least 12% per year. What is the minimum annual nominal rate that is acceptable for continuous compounding?
2. What nominal annual interest rate compounded monthly is equivalent to an effective annual interest rate of 8% per year for the first 10 years followed by a nominal annual interest rate of 5% compounded daily for the second 10 years? Give your answer as a percent rounded to three decimal places. Answer:
7. You purchase a home and secure a 30 year equal payment loan for $200,000 at a interest rate of 5.25% APR compounded monthly. After 5 years the interest rate drops to 4.75% APR compounded monthly. The bank is charging 2 points to originate the new loan. How many months do you need to stay in the house after the refinance to make the refinance a benefit? (10 Pts) a. 18 months b. 20 months C. 30 months 36 months...
please show calculationd 5. If the nominal rate of interest is 9% and it is compounded monthly what rate of interest? (2 points) monthly what is the effective annual 6. If you invest 500 dollars at the beginning of each year how much will you have in 6 years if you earn 6% compounded weekly? (3 points)
1. My credit card charges interest of 0.04% per day compounded daily. (a) What is the APR for this credit card? (b) What is the APY? Assume 360 days in a year (twelve 30-day months). 2. A local credit union is advertising a car loan with an APR of 6.75%. If interest is compounded monthly, (a) what is the interest rate per compounding period, and (b) what is the effective annual interest rate (i.e., the APY)? 3. Your local credit...
Please answer C and D. If a nominal interest rate of 8% is compounded continuously, determine the unknown quantity in each of the following situations: a. What uniform EOY amount for 9 years is equivalent to $7,000 at EOY 9? b. What is the present equivalent value of $900 per year for 12 years? c. What is the future equivalent at the end of the fifth year of $237 payments made every six months during the five years? The first...