The effective semiannual interest rate for a monthly interest rate of 2%
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The effective semiannual interest rate for a monthly interest rate of 2% is:
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- For an interest rate of 2% per month, the effective semiannual interest rate is:If the effective annual interest rate is 9.58% and the nominal annual rate is 9.25%, compounding is: a. Monthly b. Bi-monthly c. Continuous d. Semi-annual e. QuarterlyYou are told that the nominal rate of interest is 3.46% per quarter year payable monthly. Calculate the equivalent effective annual rate of interest.
- A loan is offered with monthly payments and a 13 percent APR. What’s the loan’s effective annual rate (EAR)If the effective annual interest rate is 8%, what is the nominal annual rate if compounding is bi-monthly?For an interest rate of 2% per quarter, determine the nominal interest rate per (a) semiannual period; (b) year; and (c) 2 years.
- If you borrow $5,300 at $900 interest for one year, what is your annual interest cost for the following payment plan? (Round the final answers to 2 decimal places.) Effective rate a. Annual payment % b. Semiannual payments % c. Quarterly payments % d. Monthly payments %If $14,000 is borrowed for 2 months and $82 is paid, then the annual simple interest rate is ____If the stated annual rate of interest compounded semi-annually is 12.5% then what is the equivalent monthly rate compounded monthly?
- For an interest rate of 2% per month, find (a) the effective rate per quarter, and (b) the effective rate per year.If $6,840.00 is loaned for 4 months at an annual simple interest rate of 3.5%, how much interest is earned?if the nominal rate is 11.5% per year compounded continuously, what is the equivalent effective rate of interest per bi month
