John Riviera deposits $14,000 in National Bank at 8% compounded quarterly. What is the effective rate...
John Riviera deposits $14,000 in National Bank at 8% compounded quarterly. What is the effective rate (APY) of interest? (round answer to the nearest hundredth)
Homework Answers
| APY = (1+Periodic rate)^Periods-1 |
| Periodic Rate = .08/4 |
| Periods = 4 |
| =(1+.08/4)^4-1 |
| =8.243216 |
| =8.24% approx |
Add Answer to:
John Riviera deposits $14,000 in National Bank at 8% compounded
quarterly. What is the effective rate...
Jim Ryan deposited $8,000 at National Bank at 6% interest compounded quarterly. What was the effective...
Jim Ryan deposited $8,000 at National Bank at 6% interest compounded quarterly. What was the effective rate (APY)? (Round to the nearest hundredth percent.) %
Ed Sullivan deposited $14,000 at Roll Bank at 8% interest compounded semiannually. What was the effective...
Ed Sullivan deposited $14,000 at Roll Bank at 8% interest compounded semiannually. What was the effective rate (APY)? Round to nearest hundredth percent.
Marit Brunsell deposited $65,000 at Bank of America at 8% interest compounded quarterly. What is the...
Marit Brunsell deposited $65,000 at Bank of America at 8% interest compounded quarterly. What is the effective rate (APY)? (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)
Marit Brunsell deposited $50,000 at Bank of America at 16% interest compounded quarterly. What is the...
Marit Brunsell deposited $50,000 at Bank of America at 16% interest compounded quarterly. What is the effective rate (APY)? (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.) Effective rate
Marit Brunsell deposited $50,000 at Bank of America at 20% interest compounded quarterly. What is the...
Marit Brunsell deposited $50,000 at Bank of America at 20% interest compounded quarterly. What is the effective rate (APY)? (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.) tective rate s
Find the interest rate for a $7500 deposit accumulating to $12,042, compounded annually for 8 years....
Find the interest rate for a $7500 deposit accumulating to $12,042, compounded annually for 8 years. The interest rate is %. (Do not round until the final answer. Then round to two decimal places as needed.) Find the face value of the zero-coupon bond. 17-year bond at 5.4%; price $6000 The face value will be $ (Do not round until the final answer. Then round to the nearest dollar as needed.) Find the face value of the zero-coupon bond. 20-year...
Find effective rate (APY). (Round your answer to the nearest hundredth percent.) $5,000 Interest rate 10% Compounde...
Find effective rate (APY). (Round your answer to the nearest hundredth percent.) $5,000 Interest rate 10% Compounded Semiannually Effective rate (APY)
If a bank pays a 6% annual percentage rate, with quarterly compounding, on deposits, what effective...
If a bank pays a 6% annual percentage rate, with quarterly compounding, on deposits, what effective annual rate does the bank pay?
What is the amount of the quarterly deposits A such that you will be able...
What is the amount of the quarterly deposits A such that you will be able to withdraw the amounts shown in the cash flow diagram if the interest rate is 8% compounded quarterly? 8% Compounded quarterly $2,000 $1,300 Quarters 0 1 2 3 4 5 678 (Deposit) The amount of the quarterly deposits A should be S(Round to the nearest dollar.)
bank offers annual rate 2.13% compounded quarterly for deposit at least $25,000. What is APY?
bank offers annual rate 2.13% compounded quarterly for deposit at least $25,000. What is APY?
Jim Ryan deposited $8,000 at National Bank at 6% interest compounded quarterly. What was the effective rate (APY)? (Round to the nearest hundredth percent.) %
Marit Brunsell deposited $50,000 at Bank of America at 16% interest compounded quarterly. What is the effective rate (APY)? (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.) Effective rate
Marit Brunsell deposited $50,000 at Bank of America at 20% interest compounded quarterly. What is the effective rate (APY)? (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.) tective rate s
Find the interest rate for a $7500 deposit accumulating to $12,042, compounded annually for 8 years. The interest rate is %. (Do not round until the final answer. Then round to two decimal places as needed.) Find the face value of the zero-coupon bond. 17-year bond at 5.4%; price $6000 The face value will be $ (Do not round until the final answer. Then round to the nearest dollar as needed.) Find the face value of the zero-coupon bond. 20-year...
Find effective rate (APY). (Round your answer to the nearest hundredth percent.) $5,000 Interest rate 10% Compounded Semiannually Effective rate (APY)
What is the amount of the quarterly deposits A such that you will be able to withdraw the amounts shown in the cash flow diagram if the interest rate is 8% compounded quarterly? 8% Compounded quarterly $2,000 $1,300 Quarters 0 1 2 3 4 5 678 (Deposit) The amount of the quarterly deposits A should be S(Round to the nearest dollar.)
Most questions answered within 3 hours.
-
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 1 hour ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 1 hour ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 1 hour ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 1 hour ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 1 hour ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 1 hour ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 1 hour ago -
Write MARIE assembly language programs that do the following:
Write a program that inputs an integer...
asked 1 hour ago -
Explain an understanding of services and protocols.
Explain the job of DNS.
Explain the three email...
asked 1 hour ago -
(As soon as possible) Balance each of the following equations
according to the half-reaction method:
H2O2(aq)...
asked 2 hours ago -
A thin rod with a mass of 3.5kg and a length L=1.5 m is oriented
horizontally....
asked 2 hours ago -
Inheritance pattern in BRCA 1
Describe the inheritance pattern of BRCA 1 Is it recessive or...
asked 2 hours ago