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August 22, 2014

August 22, 2014

Posted by **Math** on Friday, July 24, 2009 at 1:25am.

- Compound Interest -
**Reiny**, Friday, July 24, 2009 at 9:40amfor the rate compounded monthly equivalent to a rate of 5.3% compounded semi-annually :

let the monthly rate be i

then

(1+i)^12 = (1 + .053/2)^2 , take √

(1+i)^6 = 1.0265 , now take the 6th root

1+i = 1.004368675

so i = .004368675

so the annual rate is 12(.004368675)

= .052424

So 5.2424% compounded monthly is equal to 5.3% compounded semi-annually

for the annual rate,

let the annual rate be j

(1+j) = (1 + .053/2)2

1+j = 1.053702

j = .053702 ---> an annual rate of 5.3702%

- Compound Interest -
**D.Ros**, Monday, May 14, 2012 at 9:23pmif grandpa payed an insurance policy weekly payments of $1.02 at 3 and 1/2 percent interest compounded annually for 49 years(588 months) how much would it payout after his death to granddaughter? Based on Commissions 1961 Standard Industrial Mortality Table.

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