Wednesday

January 28, 2015

January 28, 2015

Posted by **Zoey** on Monday, April 9, 2012 at 2:56pm.

- calculus -
**Henry**, Tuesday, April 10, 2012 at 11:06pmP = Po(1+r)^n.

r = Quarterly % rate.

n = 4 comp/yr + 13yrs = 52 = The # of

compounding periods.

9900 = 5000(1=r)^52.

(1+r)^52 = 9900 / 5000 = 1.98

Take Log of both sides:

52*Log(1+r) = Log1.98 = 0.296665

Log(1+r) = 0.00571.

1+r = 10^0.00571. = 1.013223.

r = 1.013223 - 1 = 0.013223 = Quarterly % rate.

APR = 4 * 0.013223 = 0.0529 = 5.29 %.

= Annual % rate.

- calculus -
**zoey**, Thursday, April 12, 2012 at 12:13pmthanks!

**Answer this Question**

**Related Questions**

math - Suppose $5000 is deposited in a bank account that compounds interest four...

math - Suppose $5000 is deposited in a bank account that compounds interest ...

Alg 2 - Suppose you deposit a principal amount of p dollars in a bank account ...

Alg2 - Help....Help... Suppose you deposit a principal amount of p dollars in a ...

math - I have been staring at this problem forever, and cant seem to dig it up ...

algebra - Hassan deposited $7,500 into a bank account. At the end of 3 years, ...

Pre-Algebra help PLZ!! - Hassan deposited $7,500 into a bank account. At the end...

Calculus Please help! - If 7000 dollars is invested in a bank account at an ...

Compound interest - Hello My teacher skipped over this and I have no clue how to...

algebra - If x dollars is deposited every four weeks (13 times a year) into an ...