
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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-/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](https://content.bartleby.com/qna-images/question/0358b5fa-6a35-4918-bb57-f6ae9ca4088e/3a286f22-c54f-4d9d-ae27-62928d2c6b55/tecyehu_thumbnail.png)
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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