10% per year compounded annually to effective interest rate per quarter 12% per year compounded quarterly to effective interest rate per 2 years 12% per year compounded semi-annually to effective interest rate per bimonth 9% per year compounded bimonthly to effective interest rate per quarter 5% per quarter to effective interest rate per year 0.02411 Choose a match Choose a match Choose a match 0.01227

10% per year compounded annually to effective interest rate per quarter 12% per year compounded quarterly to effective interest rate per 2 years 12% per year compounded semi-annually to effective interest rate per bimonth 9% per year compounded bimonthly to effective interest rate per quarter 5% per quarter to effective interest rate per year 0.02411 Choose a match Choose a match Choose a match 0.01227

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 18E

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Cash Flow Amounts R. Lee Rouse borrows 10,000 that is to be repaid in 24 equal monthly installments payable at the end of each subsequent month with interest at the rate of 1% per month. Required: Using the appropriate table, calculate the equal installments.
Payment and frequency (PMT) Time in years (n) Interest rate and compound frequency (I/Y) Present Value (PV) Future Value (FV) $777.00 per end of quarter 7 years 7% compounded quarterly Not Applicable _______________ $333.40 per month (end) 121 payments 8 ¼ % compounded quarterly ______________ Not Applicable $____________ per end of quarter 159 months 5 % compounded semi-annually $91,000 Not Applicable $69.00 per quarter (end) __________years 4.47 % compounded annually Not Applicable $30,000 $4,000 at the beginning of every year 12 years ____________% compounded monthly $29,700 Not Applicable $350 at the beginning of every 6 months 21 ½ years 17.35% compounded monthly Not Applicable _______________ $________ per end of month 35 years 8.25% compounded quarterly Not Applicable $1,000,000 $1,000 end of the month _______months! 3% compounded semi-annually $339,794.10 Not applicable
Payment and frequency (PMT) Time in years (n) Interest rate and compound frequency (I/Y) Present Value (PV) Future Value (FV) $500.00 per quarter (end) 5 years 5% compounded quarterly ______________ Not Applicable $241.63 per month (end) 69 payments 6 ¾ % compounded monthly Not Applicable _______________ $____________ per quarter 7 years and 3 months 3 % compounded semi-annually $8,000.00 Not Applicable $445.30 per month __________years 7.45 % compounded quarterly Not Applicable $24,788.40 $2,000 beginning of every six months 12 ½ years _______compounded quarterly $46,000 Not Applicable
Identify each of the following interest rate statements as either nominal or effective.a. 4% per yearb. 6% per year compounded annuallyc. 10% per quarterd. 8% per year compounded monthlye. 1% per monthf. 1% per month compounded monthlyg. 0.1% per day compounded hourlyh. effective 1.5% per month compounded weeklyi. 12% per year compounded semiannuallyj. 1% per month compounded continuously
Identify the compounding period for the following interest statements: (a) 3% per year; (b) 10% per year compounded quarterly; (c) nominal 7.2% per year compounded daily; (d) effective 3.4% per quarter compounded continuously; and (e) 0.012% per day compounded hourly.