(1 point) An investment pays simple interest, and doubles in 12 years. What is the annual...
HW17: Problem 9 Previous Problem Problem List Next Problem (4 points) An investment pays simple interest, and doubles in 12 years. What is the annual interest rate? Answer = percent. Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining.
First Simple Bank pays 9.7 percent simple interest on its investment accounts. If First Complex Bank pays interest on its accounts compounded annually, what rate should the bank set if it wants to match First Simple Bank over an investment horizon of 9 years? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Interest rate %______
1. A bank pays a quoted annual (simple) interest rate of 8 percent. However, it pays interest (compounds) on a daily basis using a 365-day year. What is the effective annual rate of return? Show details of the EAR formula. 2. You have just taken out a 30-year mortgage on your new home for $120,000. This mortgage is to be repaid in 360 equal monthly installments. If the stated (simple) annual interest rate is 14.75 percent, what is the amount...
First Simple Bank pays 9.3 percent simple interest on its investment accounts. If First Complex Bank pays interest on its accounts compounded annually, what rate should the bank set if it wants to match First Simple Bank over an investment horizon of 10 years? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)Interest Rate_______________
Problem 6-29 Simple Interest versus Compound Interest (L04) First Simple Bank pays 8.3 percent simple interest on its investment accounts. If First Complex Bank pays interest on its accounts compounded annually, what rate should the bank set if it wants to match First Simple Bank over an investment horizon of 8 years? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Interest rate 1 %
vanscpy bank pays 7.8% simple interest on it's investment account.if case bank pays interest on it's accounts compounded annually,what rate should the bank set if it wants to match vancoy bank over an investment horizon of eight years
If your investment doubles in 6 3/4 years, what approximate annual rate of return would you have earned? If you could earn an annual rate of 7.50%, approximately how long would it take for your investment to double? A. 9.60%; 10.67 years B. 13.50%; 9.20 years C. 9.20%; 13.50 years D. 10.67%; 9.60 years answer is NOT 10.81 and 9.58 !
Problem (5): An investment pays $ 30,000 after five years. a) If the annual inflation rate is 8%, what is the real value of the $30,000 in today's dollars? b) If the annual inflation rate is 8% and the real interest rate is 12%, what is the present worth of the investment return? c) What Actual-dollar interest rate is equivalent to a real interest rate of 12% when the annual inflation rate is 8% d) Compute the present worth using...
What is the simple interest rate on a $1650 investment paying $645.65 interest in 9.1 years? % (round to the nearest tenth of a percent) Get help: Video License Points possible: 1 This is attempt 1 of 3.
If your investment doubles in 6 3/4 years, what approximate annual rate of return would you have earned? If you could earn an annual rate of 7.50%, approximately how long would it take for your investment to double? A)9.60%; 10.67 years B)13.50%; 9.20 years C)10.67%; 9.60 years D.)9.20%; 13.50 years