. A bank CD that pays 7.38 percent compounded semiannually. (Round answer to 2 decimal places, e.g. 15.25%.) what is the Effective annual rate %?
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4. A bank CD that pays 7.38 percent compounded semiannually. (Round answer to 2 decimal places, e.g. 15.25%.) what is the Effective annual rate %?
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- 3. A bank CD that pays 7.58 percent compounded annually. (Round answer to 2 decimal places, e.g. 15.25%.) what is the Effective annual rate %?1.A bank CD that pays 7.38 percent compounded quarterly. (Round answer to 2 decimal places, e.g. 15.25%.) what is the effective annual rate %? 2. A bank CD that pays 7.38 percent compounded monthly. (Round answer to 2 decimal places, e.g. 15.25%.) whats is the Effective annual rate %?A three-year bank CD paying 7.02 percent compounded quarterly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.)
- A three-year bank CD paying 6.82 percent compounded monthly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate % A three-year bank CD paying 7.32 percent compounded annually. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.)3a. You are paying an effective annual rate of 18.974 percent on your credit card. Theinterest is compounded monthly. What is the annual percentage rate on this account? 3b. What is the effective annual rate if a bank charges you 9.50 percent annually butcompounded quarterly?A bank quotes an interest rate of 10% pa with semi-annual compounding. Note that another way of stating this rate is that it is an annual percentage rate (APR) compounding every semi-annual.Which of the following statements about this rate is NOT correct? All percentages are given to 5 decimal places. a. Effective quarterly rate is 2.46951% per month. b. The annual percentage rate (APR) compounding every quarter is 8.79902%. c. Continuously compounded semi-annual rate is 4.87902% per quarter. d. Effective quarterly rate is 5.00000% per semi-annual. e. Continuously compounded annual rate is 9.75803% per half year.
- Pacific Bank pays a 9.75% nominal rate on deposits, with monthly compounding. What effective annual rate (EFF%) does the bank pay? Select the correct answer.4- Bank America offers a stated annual interest rate of 5.0 percent, compounded quarterly, whileBank USA offers a stated annual interest rate of 5.10 percent, compounded monthly. In whchbank should you deposit your money?A bank quotes you an interest rate of 6.6% per annum with quarterly compounding. What is the equivalent rate with annual compounding? Enter your answer in percentage rounded to two decimals places (e.g, 15.45%)
- Percentages need to be entered in decimal format, for instance 3% would be entered as .03. Cooley Industries needs an additional $500,000, which it plans to obtain through a factoring arrangement. The factor would purchase Cooley's accounts receivables and advance the invoice amount, minus a 2% commission, on the invoices purchased each month. Cooley sells on terms of net 30 days. In addition, the factor charges a 12% annual interest rate on the total invoice amount, to be deducted in advance. (This information is shown on the spreadsheet provided.) What amount of accounts receivable must be factored to net $500,000? If Cooley can reduce credit expenses by $3,500 per month and avoid bad debt losses of 2.5% on the factored amount as shown on the spreadsheet, what is the total dollar cost per month of the factoring arrangement? What would be the total cost of the factoring arrangement if Cooley's funding needs rose to $750,000? Would the factoring arrangement be profitable under…Percentages need to be entered in decimal format, for instance 3% would be entered as .03.) Cooley Industries needs an additional $500,000, which it plans to obtain through a factoring arrangement. The factor would purchase Cooley's accounts receivables and advance the invoice amount, minus a 2% commission, on the invoices purchased each month. Cooley sells on terms of net 30 days. In addition, the factor charges a 12% annual interest rate on the total invoice amount, to be deducted in advance. (This information is shown on the spreadsheet provided.) Would it be to Cooley's advantage to offer to pay the factor a commission of 2.5% if it would lower the interest rate to 10.5% annually? Assume the firm needs $500,000. Explain your answer. Assume a commission of 2% and an interest rate of 12%. What would be the total cost of the factoring arrangement if Cooley's funding needs rose to $650,000? Would the factoring arrangement be profitable under these circumstances? Why or…A bank pays a simple interest rate of 4.1% on 30 to 179-day GICs of at least $100,000. What is the effective annualized rate of return:a) On a 40-day GIC?b) On a 160-day GIC?
