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
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
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 11E
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