Homework Answers
The given answer the number of times interest is compounded is 12 is correct as interest is compounded monthly and there are 12 months in a year.
Per month interest will be = 8%/12 = 0.67% per month
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Required information Determine the number of times interest is compounded in a year for the following...
9 Required information Determine the number of times interest is compounded in a year for the...
9 Required information Determine the number of times interest is compounded in a year for the following interest statements 2% per week The number of times interest is compounded is 13
11. Semiannual and other compounding periods Semiannual compounding Implies that interest is compounded times per year...
11. Semiannual and other compounding periods Semiannual compounding Implies that interest is compounded times per year You have deposited $1,200 into an account that will cam an interest rate of 12% compounded semiannually. How much will you have in this account at the end of 14 years? O $4,907.22 O $6,134.02 O $6,747.42 O $4,600.52
Find the periodic payment R required to amortize a loan of P dollars over t yr with interest charged at the rate of r%/year compounded m times a year
Find the periodic payment R required to amortize a loan of P dollars over t yr with interest charged at the rate of r%/year compounded m times a year.P = 16,000, r = 8, t = 6, m = 6
An interest rate of 2% per month is the same as: O A) 24% per year...
An interest rate of 2% per month is the same as: O A) 24% per year B) A nominal 24% per year compounded monthly C) An effective 24% per year compounded monthly OD) Both ( a) and (b) Identify each of the following interest rate statements as either nominal or effective. V 12% per year compounded semiannually 0.1% per day compounded hourly 6% per year compounded annually 1. Nominal 4% per year 2. Effective 8% per year compounded monthly 1%...
6. Semiannual and other compounding periods Monthly compounding implies that interest is compounded times per year....
6. Semiannual and other compounding periods Monthly compounding implies that interest is compounded times per year. You have deposited $42.000 into an account that will earn an interest rate of 8% compounded semiannually. How much will you have in this account at the end of seven years? $72,730.41 O 547,274.77 O $50,911.29 O $83,639.97
8? 8. An interest rate of 10% per year compounded continuously is the same as: C...
8?
8. An interest rate of 10% per year compounded continuously is the same as: C D a. Effective 12.683% per year compounded continuously. b. Effective 1.08% per month compounded continuously. c. Nominal 1% per month compounded continuously. d. Effective 10.517% per year compounded continuously. C
Capital Recovery-Perpetual 4. With interest at 8% compounded annually, how much money is required today to...
Capital Recovery-Perpetual 4. With interest at 8% compounded annually, how much money is required today to provide a perpetual income of $14,316 per year? Geometric Series 5. A new machine was bought for $9,000 with a life of six years and no salvage value. Its operating cost begins in year one in $7,000 and will increase by 5% every year. If the MARR =12% what is the annual equivalent cost of the machine? Simple Interest 6. If you borrow $3,000...
Given the formula for interest compounded nn times per year A=P(1+rn)ntA=P(1+rn)nt, solve each of the following...
Given the formula for interest compounded nn times per year
A=P(1+rn)ntA=P(1+rn)nt, solve each of the following and round your
answer to the nearest penny.
solve (a) and (b)
Given the formula for interest compounded n times per year A = P(1 + )nt , solve each of the following and round your answer to the nearest penny. (a) P-190, 000, r-9%, n-26, t-48 A $ 1.4180 Toggle Clear Help 1.4180 Submit Answer Incorrect. Tries 5/99 Previous Tries (b) P 160,...
Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r%/year compounded m times a year. (Round your answer to the nearest cent.)
Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r%/year compounded m times a year. (Round your answer to the nearest cent.)P = 40,000, r = 3, t = 15, m = 12I have gotten 10,000$ multiple times and it is not accepted as the answer.
Determine the periodic interest rate for a nominal interest rate of 2.7% compounded: (Round your answers...
Determine the periodic interest rate for a nominal interest rate of 2.7% compounded: (Round your answers to 2 decimal places.) a. Semiannually. % per half-year b. Quarterly % per quarter c. Monthly % per month
9 Required information Determine the number of times interest is compounded in a year for the following interest statements 2% per week The number of times interest is compounded is 13
11. Semiannual and other compounding periods Semiannual compounding Implies that interest is compounded times per year You have deposited $1,200 into an account that will cam an interest rate of 12% compounded semiannually. How much will you have in this account at the end of 14 years? O $4,907.22 O $6,134.02 O $6,747.42 O $4,600.52
An interest rate of 2% per month is the same as: O A) 24% per year B) A nominal 24% per year compounded monthly C) An effective 24% per year compounded monthly OD) Both ( a) and (b) Identify each of the following interest rate statements as either nominal or effective. V 12% per year compounded semiannually 0.1% per day compounded hourly 6% per year compounded annually 1. Nominal 4% per year 2. Effective 8% per year compounded monthly 1%...
6. Semiannual and other compounding periods Monthly compounding implies that interest is compounded times per year. You have deposited $42.000 into an account that will earn an interest rate of 8% compounded semiannually. How much will you have in this account at the end of seven years? $72,730.41 O 547,274.77 O $50,911.29 O $83,639.97
8?
8. An interest rate of 10% per year compounded continuously is the same as: C D a. Effective 12.683% per year compounded continuously. b. Effective 1.08% per month compounded continuously. c. Nominal 1% per month compounded continuously. d. Effective 10.517% per year compounded continuously. C
Capital Recovery-Perpetual 4. With interest at 8% compounded annually, how much money is required today to provide a perpetual income of $14,316 per year? Geometric Series 5. A new machine was bought for $9,000 with a life of six years and no salvage value. Its operating cost begins in year one in $7,000 and will increase by 5% every year. If the MARR =12% what is the annual equivalent cost of the machine? Simple Interest 6. If you borrow $3,000...
Given the formula for interest compounded nn times per year
A=P(1+rn)ntA=P(1+rn)nt, solve each of the following and round your
answer to the nearest penny.
solve (a) and (b)
Given the formula for interest compounded n times per year A = P(1 + )nt , solve each of the following and round your answer to the nearest penny. (a) P-190, 000, r-9%, n-26, t-48 A $ 1.4180 Toggle Clear Help 1.4180 Submit Answer Incorrect. Tries 5/99 Previous Tries (b) P 160,...
Determine the periodic interest rate for a nominal interest rate of 2.7% compounded: (Round your answers to 2 decimal places.) a. Semiannually. % per half-year b. Quarterly % per quarter c. Monthly % per month
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