What is the annual effective interest rate of a loan that is the compounded daily, if the nominal annual interest rate is 5%(Pick the nearest choice)

Q: A financial adviser recommends a client deposit $1500 in a fund that earns 9.5% annual interest…

A: To find the interest rate per month

Q: Suppose you put a $1000 in a college fund that pays 7.2% interest compounded annually. Find the…

A: In the given problem, The principle amount is p = $1000 The rate of interest is r = 7.2% And, the…

Q: What nominal interest rate compounded monthly is equivalent to 4.50% compounded quarterly?

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Q: What is the amount of interest of a loan 20,000 at 6% compound interest for 3 years?

A: We will find out the required value.

Q: What will be the compound interest on a sum of ₱25,000 after 3 years at the rate of 12% per annum?

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Q: The total amount paid on a 5 year loan was $16,000. If the interest rate was 7% and compounded…

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Q: Find the simple interest. Principal           Rate           Time in Months $10000              4%…

A: Given,            Principal           Rate           Time in Months             $10000…

Q: Capitec bank announced that their saving account would pay a nominal interest rate of 11% p.a…

A: The effective interest rate for a period is the interest paid for the specific amount of time or…

Q: Determine the equivalent effective interest rate of the 20% nominal interest compounding ona monthly…

A: Given, Nominal interest rate( i )=20% =0.2 n=12 ( i.e. monthly compounded in a year means 12…

Q: What is the annual percentage yield for an account with a nominal interest rate of 12%, compounded…

A: The formula for annual percentage yield is, APY = (1 + i/n)n – 1, where I is the nominal interest…

Q: Find the effective rate to the nearest hundredth for nominal interest rate. 7% compounded quarterly

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Q: An investment will pay 5000 dollars at the beginning of 2001, and 3800 dollars at the beginning of…

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Q: If an interest rate of 5% results in interest of $50, what is the principal amount of the loan?

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Q: What interest rate was applied if a loan of P54, 300 will amount to P83, 000 after 2 years and 6…

A: We need to find the interest rate applied if a loan of P54, 300 will amount to P83, 000 after 2…

Q: Determine the simple interest rate at which $2400 will grow to $2536 in 8 months. (Round your answer…

A: Given: P=2400 I=2536-2400=136 t=8/12

Q: The interest rate on a GIC is 4.50% compounded quarterly. What is the purchase price of the GIC if…

A: Find purchase price of GIC

Q: No payments were made on a $2,598 loan during its three-year term. What was the annually compounded…

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Q: Find the effective rate of interest.; For 6% compounded monthly

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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: Find the amount applied to principle for the third month of a 4-year loan of $12,200 which charges…

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Q: A loan of P72, 000 after 3 years will amount to P128, 600 compounded monthly. What interest rate is…

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Q: Find the effective rate of interest.For 5% compounded quarterly

A: Effective interest rate is the equivalent annual interest rate compounded annually which is…

Q: If $13,376.39 was the interest earned on lending $87,000.00 for 4 years, what was the quarterly…

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Q: What is the interest rate compounded quarterly if 2,500,000 pesos is invested and the amount became…

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Q: Determine the simple interest rate at which $2400 will grow to $2585 in 10 months. (Round your…

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Q: Your 4 year investment of $21,000 received 13.6% interest compounded quarterly. What is your total…

A: Here p0 = 21000$ R = 13.6% annually  N = 4 year

Q: Suppose that a savings account pays an effective rate of interest of 11 percent. What is the…

A: Interest rate =11%

Q: Royal Company holds a loan with an interest rate of 11.00% compounded semi-annually. Calculate the…

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Q: does a simple interest investment generate less interest than a compound interest loan?

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Q: Please draw cashflow diagram) What amount of money invested today at 15% interest rate compounded…

A: Given that the interest rate is 15% and its compounded quarterly and P30,000 at the end of each year…

Q: What is the interest due if $500 is borrowed for 6 months at asimple interest rate of 6% per annum?

A: Given:     Principal (P) = $500     Interest rate (r) = 6 %     Time (t) = 6 month =612 year Simple…

Q: determine the interest rate in % compounded annually if the compound amount factor is 1.069 for a…

A: The formula for compound interest is A= P(1+rn)nt Where A = accumulated amount, P= principal, r =…

Q: When must an obligation of P3,483 be made  to extinguish a loan of P3,000 which bears interest at 4%…

A: Let x be the number of days after which an obligation of P3,483 is to be made to extinguish a loan…

Q: How much is the original loan if semi-annual payments of $100,000 are used to repay it at 5%…

A: r= 5% A = amount to be paid =$100,000 P = original amount  t= 8 years

Q: What interest rate was applied if a loan of ₱54,300 will amount to ₱83,000 after 2 years and 6…

A: NOTE: Refresh your page if you can't see any equations. . here we have P=54300 A=83000 t=2 years and…

Q: If you take out a 5 year loan of $8000 at 6% interest compounded monthly, then what will be each…

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Q: What simple interest rate will convert a $200 investment into $220 in one year?

A: we know the formula: simple interest (SI)=P×r×t100 where P is the principle(investment) amount, r is…

Q: Calculate the amount of money Daniel had to deposit in an investment fund growing a an interest rate…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Find the effective rate of interest corresponding to a nominal rate of 6% compounded semiannually.

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Q: Find the difference between simple interest and compound interest on a savings deposit of fifty…

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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 a nine-month term deposit at a bank earns a simple interest rate of 9% per annum, how much should…

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Q: What is the maximum amount you can borrow with a 30-year mortgage if you can pay $725 a month and…

A: Note that, here the periodic payment PMT=$725, interest rate i=4.2%=4.212×100=0.0035, and the number…

Q: Determine the simple interest rate at which $1200 will grow to $1276 in 8 months. (Round your answer…

A: Given: -

Q: If $1000 is borrowed and the interest after 24 months is $300, what is the annual interest rate for…

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Q: 3. What is the amount in the RRSP after 5.5 years? 4. How much interest will the RRSP have earned in…

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Q: A recent graduates student loan total $15,000. If these loans are at 4.6%, compounded quarterly, for…

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Q: What is the total interest paid on a 30 year mortgage for $235,000 if it is charged 7% interest,…

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Q: What annual rate of simple interest is necessary to give interest of $416 on a principal of $800…

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Q: What is the total investment of $3500 compounded quarterly for 8 years at a rate of 5%? And what is…

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