Saturday

December 20, 2014

December 20, 2014

Posted by **randy** on Wednesday, March 19, 2008 at 10:32am.

invested for 1 year at 8.5% compounded monthly.

- Maths -
**Reiny**, Wednesday, March 19, 2008 at 11:40amlet that rate be i

(1+i)^1 = (1+.085/12)^12

1+i = 1.08839

i = .08839

so the effective annual rate is 8.839%

- Maths -
**Randy**, Wednesday, March 19, 2008 at 11:56amThanks a lot

- Maths -

**Answer this Question**

**Related Questions**

Business Math - What is the annual percentage yield of a $10,000 investment for ...

business pre-cal - Find the annual rate, r that produces an effective annual ...

finance - 14. Assume Julian has a choice between two deposit accounts. Account A...

algebra - Glenn invested some money is a certificate of deposit (CD) with an ...

FINANCE - A ninety day bank bill with 90 days to maturity has a price of $99427....

calculus - what normal annual interst rate has an effective annual yield of 7.8...

Math - you deposit $1000 at 3% per year.what is the balance at the end of one ...

Math - you deposit $1000 at 3% per year.what is the balance at the end of one ...

math - compare the annual percentage yield for three banks. Bank 1 offers an APR...

math- pre calculus - you are depositing $1000 dollars in a savings account and ...