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Find the APR, or stated rate, in each of the following cases. (Do not round intermediate calculations and enter your answers

A walk through via a calculator or excel would be greatly appreciated!

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Answer #1

Compounded semiannually
APR = 2 x ((1.155)1/2-1) = 14.94%

Compounded Monthly
APR = 12 x ((1.115)1/12 - 1) = 10.93%

Compounded Weekly
APR = 52 x ((1.095)1/52 - 1) = 9.08%

Compounded Daily
APR = 365 x ((1.075)1/365 - 1) = 7,23%

Solving Power in excel = POWER(Number,Power)

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