If the nominal annual rate of interest convertible monthly is 2% find the corresponding equivalent nominal...
If the nominal annual rate of interest convertible monthly is 2% find the corresponding equivalent nominal annual rate of discount convertible semiannually.
Homework Answers
Nominal annual rate convertible semi annually is 2.00835188% computed as follows:
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If the nominal annual rate of interest convertible monthly is 2%
find the corresponding equivalent nominal...
2. What nominal annual interest rate compounded monthly is equivalent to an effective annual interest rate...
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:
an annual effective interest rate of 7%. Find the corresponding rates that are equivalent to this...
an annual effective interest rate of 7%. Find the corresponding rates that are equivalent to this annual effective interest rate. Round all responses as Xxxx%. a.) Nominal semiannual interest rate
4. Find the effective bimonthly interest rate equivalent to: (a) nominal annual interest of 9%, compounded...
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.
Find the effective rate of interest corresponding to a nominal rate of 6%/year compounded annually, semiannually, quarterly, and monthly
Find the effective rate of interest corresponding to a nominal rate of 6%/year compounded annually, semiannually, quarterly, and monthly. (Round your answers to two decimal places.)
4. Assume that a fund will grow at a nominal annual discount rate of 2.5 %convertible...
4. Assume that a fund will grow at a nominal annual discount rate of 2.5 %convertible monthly for the first three years, force of interest δt = (t) / ( 1+0.1t) for the next two years, effective annual rate of discount at 3% for the next three years and effective annual rate of interest of 3.5% thereafter. Calculate the present value now of 75000 to be paid in 9 years from now and of 100000 to be paid in 12...
Ramon is approved for a 8 year loan of 45,000 at nominal rate of interest convertible...
Ramon is approved for a 8 year loan of 45,000 at nominal rate of interest convertible semiannually of 8.2432 percent. He will be making monthly payments at the end of each month. a. What is his monthly payment?
Assume that nominal effective interest i(12) = .03. Find ? a) Annual effective interest rate i...
Assume that nominal effective interest i(12) = .03. Find ? a) Annual effective interest rate i ? b) Monthly effective interest rate j ? c) Nominal interest rate i(52) compounded weekly. ? d) Nominal discount rate d(365) compounded daily.
Dave purchased a 10-year par value bond with semiannual coupons at a nominal annual rate of...
Dave purchased a 10-year par value bond with semiannual coupons at a nominal annual rate of 4% convertible semiannually at a price of 1021.50. The bond can be called at par value F on any coupon date starting at the end of year 5. The price guarantees that Dave will receive a nominal annual rate of interest convertible semiannually of at least 6%. Determine whether the bond was bought at par, at a discount, or at a premium. at a...
A thirty year monthly payment mortgage loan for 500,000 is offered at a nominal rate of 8.4% convertible monthly. Find...
A thirty year monthly payment mortgage loan for 500,000 is offered at a nominal rate of 8.4% convertible monthly. Find the a) monthly payment, b) the total principal and interest that would be paid on the loan over 30 years c) the balance in 5 years and d) the principal and interest paid over the first 5 years.
Janet buys a $20,000 car. Prevailing market rates are nominal 8% annual, convertible monthly. The dealership...
Janet buys a $20,000 car. Prevailing market rates are nominal 8% annual, convertible monthly. The dealership offers her the choice of a rebate upon purchase of the car for cash, or alternatively, Janet can make no down payment and 60 monthly payments based on a nominal 2.5% annual interest, convertible monthly. The first payment would be due one month after the purchase of the car. The amount of the rebate is set so that the dealership is indifferent as to...
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:
an annual effective interest rate of 7%. Find the corresponding rates that are equivalent to this annual effective interest rate. Round all responses as Xxxx%. a.) Nominal semiannual interest rate
Dave purchased a 10-year par value bond with semiannual coupons at a nominal annual rate of 4% convertible semiannually at a price of 1021.50. The bond can be called at par value F on any coupon date starting at the end of year 5. The price guarantees that Dave will receive a nominal annual rate of interest convertible semiannually of at least 6%. Determine whether the bond was bought at par, at a discount, or at a premium. at a...
A thirty year monthly payment mortgage loan for 500,000 is offered at a nominal rate of 8.4% convertible monthly. Find the a) monthly payment, b) the total principal and interest that would be paid on the loan over 30 years c) the balance in 5 years and d) the principal and interest paid over the first 5 years.
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