Calculate the nominal rate for each of the following general ordinary annuities given the present or future value of the annuity. Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56% Periodic Payment interval Term Interest Compounding Present or Future Rate payments frequency value $500.00 Every quarter year 13 years, 6 months 0.00% Semi-annually FV = $33,693.20 PV = $4,687.88 $700.00 Every quarter year 1 year, 9 months 0.00% Semi-annually

Cornerstones of Financial Accounting
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ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
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Calculate the nominal rate for each of the following general ordinary annuities given the present or future value of the annuity. Note: Please make sure your final answer(s) are in percentage form and
are accurate to 2 decimal places. For example 34.56%
Payment
interval
Interest Compounding Present or Future
Rate
Periodic
Term
payments
frequency
value
$500.00 Every quarter year 13 years, 6 months 0.00%
$700.00 Every quarter year
Semi-annually FV = $33,693.20
Semi-annually
1 year, 9 months
0.00%
PV = $4,687.88
Transcribed Image Text:Calculate the nominal rate for each of the following general ordinary annuities given the present or future value of the annuity. Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56% Payment interval Interest Compounding Present or Future Rate Periodic Term payments frequency value $500.00 Every quarter year 13 years, 6 months 0.00% $700.00 Every quarter year Semi-annually FV = $33,693.20 Semi-annually 1 year, 9 months 0.00% PV = $4,687.88
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