1.APY=[(1+rate/m)^m]-1
where m=compounding periods
=(1+0.076/12)^12-1
=7.87%(Approx).
2.APY=[(e)^rate]-1
where e=2.71828
=[(2.71828)^0.08]-1
=8.33%(Approx).
Find the annual percentage yield for an investment at the following rates. (Round your answers to...
Find the future value of an investment of $3,900 made today for the following rates and periods: (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your answers to the nearest penny.) a. 6.25 percent compounded semiannually for 12 years. Future value? b. 7.63 percent compounded quarterly for 6 years. Future value? c. 8.9 percent compounded monthly for 10 years. Future value? d. 10 percent compounded daily for 3 years. Future...
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QUESTION 2 Find the annual percentage yield (APY) of an account with an APR of 5.6% compounded monthly. Round to two decimal places. QUESTION 3 Find the savings plan balance after 5 years with an APR of 8.8% and monthly payments of $572. QUESTION 4 You intend to create a college fund for your baby. If you can get an APR of 7% and want the fund to have a value of $158,962 after 16...
Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 11% compounded monthly: 11.25% compounded annually %. The effective annual yield for a 11% compounded monthly investment is (Round to two decimal places as needed.) Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 3% compounded semiannually; 2.9% compounded daily %. The effective annual yield for a 3% compounded semiannually investment...
Find the future value of an investment of $1,900 made today for the following rates and periods: (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your answers to the nearest penny.) Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference...
Find the effective rate of an account that earns 2.4% compounded: Round your answers to 4 decimal places as needed. semi-annually: % quarterly: monthly: % weekly: daily: | continuously: %
What is the effective annual yield for an account paying 7% interest compounded monthly? Round your answer to two decimal places and do not include the percent sign.
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all one big question.
Find the equivalent interest rates to the given nominal interest rates. a. Nominal interest rate compounded quarterly that is equivalent to an effective interest rate of 7.5% 0.00 % Round to two decimal places b. Nominal interest rate compounded monthly that is equivalent to 8% compounded quarterly 0.00 % Round to two decimal places c. Nominal interest rate compounded monthly that is equivalent to 6.5% compounded annually 0.00 % Round to two decimal places Brian...
Find the effective rate of an account that earns 3.3% compounded: Round your answers to 4 decimal places as needed. semi-annually: quarterly: monthly: weekly: daily: continuously: Points possible: 5 This is attempt 1 of 3
Find the present value of $3,300 under each of the following rates and periods: (Round your final answer to the nearest penny.) a. 8.9 percent compounded monthly for five years. Present value $ b. 6.6 percent compounded quarterly for eight years. Present value $ c. 4.3 percent compounded daily for four years. Present value $ d. 5.7 percent compounded continuously for three years. Present value $
Do not round until the final answer, then round to two decimal
place as needed
Find the annual percentage yield (APY) in the following situation. A bank offers an APR of 3.5% compounded daily. The annual percentage yield is %. (Do not round until the final answer. Then round to two decimal places as needed.)