Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN: 9780079039897
Author: Carter
Publisher: McGraw Hill
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Question
Find the effective rate corresponding to the given nominal rate. (Round your answers to three decimal places.)
(a) 9.5%/year compounded monthly
%
(b) 9.5%/year compounded daily
%
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DETAILS
MY NOTES
TANAPCALC10 5.3.007.
ASK YOUR TEACHE
Find the present value of $90,000 due in 7 years at the given rate of interest. (Round your answers to the nearest cent.)
(a) 9%/year compounded semiannually
(b) 9%/year compounded quarterly
LA
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Transcribed Image Text:Find the effective rate corresponding to the given nominal rate. (Round your answers to three decimal places.) (a) 9.5%/year compounded monthly % (b) 9.5%/year compounded daily % Need Help? Read It Watch It SUBMIT ANSWER -/6.66 Points] DETAILS MY NOTES TANAPCALC10 5.3.007. ASK YOUR TEACHE Find the present value of $90,000 due in 7 years at the given rate of interest. (Round your answers to the nearest cent.) (a) 9%/year compounded semiannually (b) 9%/year compounded quarterly LA
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