Sunday

August 31, 2014

August 31, 2014

Posted by **Thara** on Wednesday, July 29, 2009 at 10:29pm.

- math & finance -
**MathMate**, Thursday, July 30, 2009 at 6:07pmSee double post:

http://www.jiskha.com/display.cgi?id=1248989599

- math & finance -
**economyst**, Thursday, July 30, 2009 at 6:11pmfirst calculate the annual equivalence

(1+.053/2)^2 = 1.0537 ergo, the equivalent annual rate is 5.37%

Let the monthly equivalent rate be x.

So (1+x/12)^12 = 1.0537

12ln(1+x/12) = ln(1.0537) = .0523078

ln(1+x/12) = .00435898

(1+x/12) = e(.00435898) = 1.0043685

x/12 = .0043685

x = .05242

annual rate is 5.242%

**Related Questions**

compounded interest - A bank offers a rate of 5.3% compounded semi-annually on ...

Compound Interest - A bank offers a rate of 5.3% compounded semi-annually on its...

Math! - A credit Union pays 8.25% comppunded annually on 5-year compound-...

Math - How to calculate this? 4 year term investment. The investment offers a ...

Mathematics - In the problems 1 to 3, find the present value of the given (...

finance - You have found three investment choices for a one year deposit: 10% ...

College Algebra - bank a is lending money at 5.7% interest compounded annually. ...

Foundations Math 12 - Jie is investing $15000 and is choosing between two ...

math(compunded interest ) - 6.how long will it take for a sum of money to ...

MATHS - A SUM OF MONEY IS KEPT IN A BANK AT 8% INTEREST COMPOUNDED ANNUALLY.HAD ...