An amount of $1300.00 earns $500.00 interest in three years, five months. What is the effective annual rate if interest compounds monthly? ..... The effective annual rate of interest as a percent is %. (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

Q: This year, the monthly rent for a condominium is $1060. If the annual rent increase is set at 3.1%,…

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Q: In the 2000 U.S. Census, a small city had a population of 50,000. By the 2010, the population had…

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Q: A bank account uses simple interest. If 10,000 is deposited at a rate of 4% interest, how much money…

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Q: A vehicle purchased for $32,500 depreciates at a constant rate of 7%. Determine the approximate…

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Q: Which of the two rates would yield the larger amount in 1 year: 7% compounded monthly or 7-%…

A: ⇒We need to find which amount of rate yield the larger amount in one year.Compound amount…

Q: Suppose the value of your car is decreasing by 18% per year. If your car is currently worth $20,000.…

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Q: If you paid $90 to a loan company for the use of $1,252 for 120 days, what annual rate of interest…

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Q: What is the effective annual interest rate of a 4% nominal annual interest rate compounded daily.…

A: Effective Interest Rate i=1+rMM-1×100 % where r is nominal interest rate M is number of compounding…

Q: What nominal rate, compounded quarterly, is equivalent to 8%, compounded monthly? * O 15 % O 8.053%…

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Q: A new car is purchased for 20700 dollars. The value of the car depreciates at 11% per year. What…

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Q: What is the simple interest rate on a $1350 investment paying $319.82 interest in 10.3 years?  %…

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Q: What interest rate, compounded quarterly, results in an annual percentage yield (APY) of 4%?…

A: It is given that annual percentage yield is 4%. The annual percentage yield is calculated by the…

Q: How many years if the computed total conversion periods is 51 when compounded quarterly?

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Q: the per age. (R your earest cel $800,000 borrowed at 7% for 2 years, with quarterly payments

A: Use formula of periodic payment

Q: A new car is purchased for 20000 dollars. The value of the car depreciates at 12.5% per year. What…

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Q: An insurance company pays claims for bills from a physical therapist as follows: They take the…

A: Given  Actual bill is reduced by 10% Percentage paid of the remaining amount =35%

Q: A new car is purchased for 1900o dollars. The value of the car depreciates at 11.25% per year. What…

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Q: What is the simple interest rate on a $2100 investment paying $771.75 interest in 10.5 years?…

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Q: To pay for the new machinery in 10 years, a company owner invests $15,000 at 7.5% compunded…

A: To find the money available

Q: A new car is purchased for 24800 dollars. The value of the car depreciates at 12% per year. What…

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Q: If a bank advertises "triple your money in 12 years", what simple rate of interest is it offering?

A: We need to calculate the simple interest that the bank offers. The bank says "triple your money in…

Q: A new car is purchased for 16200 dollars. The value of the car depreciates at 14.25% per year. What…

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Q: 3600 dollars is placed in an account with an annual interest rate of 9%. How much will be in the…

A: Given that $3600 is placed in account with an annual interest rate of 9%.

Q: A new car is purchased for $50, 000 and over time its value depreciates by one half every 5 years.…

A: The initial value of the car is 50,000 After 5 years the car value is depreciated by one half so…

Q: A new car is purchased for $35,000 and over time its value depreciates by one half every 6 years.…

A: Given  Initial Cost of car = $35000 its value depreciates by one half every 6 years

Q: Your parents purchase $120,000. After 12 yea doubled in value. Wha rate that could generat

A: Present value of the house P(0) = $120,000 time t=12 years rate =r%  After 12 years the amount will…

Q: The interest rate on a car loan has increased 50% over the last 10 years and is now 9%. VWhat was…

A: According to the given information it is required to find the rate 10 years ago, when the interest…

Q: What nominal rate of interest convertible once every four years is equivalent to a nominal rate if…

A: What nominal rate of interest convertible once every four years is equivalent to a nominal rate if…

Q: If 5000 dollars is invested in a bank account at an interest rate of 4 percent per year,

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Q: . If a $28,700 salary is increased 5 percent each year to keep ahead of inflation, what will this…

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Q: If the markup on an item is 30.00% of its selling price, calculate the markup as a percentage of the…

A: To calculate the markup as a percentage of the cost of the item if the markup on an item is 30.00%…

Q: In the 2000 U.S. Census, a small city had a population of 40,000. By the 2010, the population had…

A: Let the population of city at time t be:  y(t)

Q: 3. Dave bought a car 8 years ago for $5400. To buy a similar car today would cost $12,500. Assuming…

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Q: If you borrow 1800 dollars from a lending agent for 65 weeks and in the end you have to pay 270…

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Q: A $40,000 investment in a mutual fund doubled to $80,000 in 5 years. What was the investment’s…

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Q: Today, a typical family of four spends $920/month for food. If inflation occurs at the rate of…

A: It is given that a family spends 920/month for food and inflation occurs at the rate of 3% over next…

Q: A new car is purchased for 15500 dollars. The value of the car depreciates at 7.5% per year. What…

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Q: find the effective rate for a nominal rate of 6% compunded monthly. write your answer as a percent…

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Q: If inflation has been running at 2.51% per year and a new car costs $36,400 today, what would it…

A: We have to use compound interest series formula. Let 4 years ago the price was x. Therefore…

Q: A vehicle purchased for $32,500 depreciates at a constant rate of 4%. Determine the approximate…

A: Depreciation on a vehicle can be determined by the formula v = c ( 1-r)t ---- [ I] where V is the…

Q: An account starts with $1,000, and pays 100 percent interest per year. If the interest is credited…

A: If the interest is computed and credited more frequently during the year, the value of the account…

Q: What nominal rate, compounded semi-annually, yields the same amount as 16% compounded quarterly?

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Q: If a new car costs $25,000 and depreciates at a rate of 16% per year, what will be the value of the…

A: We know that, if a depreciation of r% per year is applied over an amount P for n years, then the…

Q: What quarterly interest rate equals an annual interest rate of 15 %? Give your answer as a decimal…

A: Given problem is :   What quarterly interest rate equals an annual interest rate of 15 %? Give…

Q: What monthly interest rate equals a quarterly interest rate of 2%? Give your answer as a decimal…

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Q: If the average value of a house increases 10% per year, how much will a house costing $120,000 be…

A: Given: Principle amount deposited, P = $120,000 Rate of interest, r = 10% times per year, n = 1…

Q: A bank deposit paying simple interest at the rate of 8% per year grew to a sum of $1200 in 10…

A: The formula for Simple Interest is given by S.I=PRT100 where P is the principle, R is the rate and T…

Q: If the interest rate on a $5,000 loan is 10%, what is the total amount due (principal and compound…

A: Principal  =  $5000  Rate  =  10%  =  0.1     Final amount to be paid    =  5000 × ( 1 + (10/100) )3…

Q: Suppose your salary in 2012 is $70,000. If the annual inflation rate is 5%, what salary do you need…

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