Marit Brunsell deposited $50,000 at Bank of America at 20% interest compounded quarterly. What is the...
Marit Brunsell deposited $50,000 at Bank of America at 16% interest compounded quarterly. What is the effective rate (APY)? (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.) Effective rate
Marit Brunsell deposited $65,000 at Bank of America at 8% interest compounded quarterly. What is the effective rate (APY)? (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)
Jim Ryan deposited $8,000 at National Bank at 6% interest compounded quarterly. What was the effective rate (APY)? (Round to the nearest hundredth percent.) %
Ed Sullivan deposited $14,000 at Roll Bank at 8% interest compounded semiannually. What was the effective rate (APY)? Round to nearest hundredth percent.
John Riviera deposits $14,000 in National Bank at 8% compounded quarterly. What is the effective rate (APY) of interest? (round answer to the nearest hundredth)
Find the interest rate for a $7500 deposit accumulating to $12,042, compounded annually for 8 years. The interest rate is %. (Do not round until the final answer. Then round to two decimal places as needed.) Find the face value of the zero-coupon bond. 17-year bond at 5.4%; price $6000 The face value will be $ (Do not round until the final answer. Then round to the nearest dollar as needed.) Find the face value of the zero-coupon bond. 20-year...
What does it mean to say that interest is compounded daily? Assume a 365-day year. Compounded daily means the interest is compounded time(s) a year. х Find the compound interest and future value. Do not round intermediate steps. Round your answers to the nearest cent. Principal Rate Compounded Time $875 5% Annually 9 years The future value is $ and the compound interest is $ х 5 Find the compound interest and future value. Round your answers to the nearest...
First National Bank pays 6.1% interest compounded semiannually. Second National Bank pays 6% interest compounded monthly. a. Calculate the effective annual rate for each bank. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) b. Which bank offers the higher effective annual rate?
Find effective rate (APY). (Round your answer to the nearest hundredth percent.) $5,000 Interest rate 10% Compounded Semiannually Effective rate (APY)
The interest rate on a $100,000 loan is 7.5% compounded quarterly. What quarterly payments will reduce the balance to $75,000 after five years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) PMT $