Thursday

July 31, 2014

July 31, 2014

Posted by **Anonymous** on Monday, February 4, 2013 at 6:42am.

- calc -
**Reiny**, Monday, February 4, 2013 at 8:50amlet the quarterly rate be i

then (1+i)^4 = (1+.08)^1

(1+i)^4= 1.08

take 4th root of both sides

1+i= 1.0194265..

i = .019426..

4i= .077706..

So the annual rate compounded quartely is

7.77% correct to 2 decimals

**Related Questions**

Math - Mr. Nielson wants to borrow $1,000 for 2 years. He is given the choice of...

Math - Compound - If a bank offers interest at a nominal rate of 6%, how much ...

math - find the effectivee rate correspoding to 3% compounded quarterly The ...

math - Compute the compound quarterly amount after 1 year for $100 invested at ...

math - An amount of $3000 was deposited in a bank at a rate of 2% annual ...

Math - Bank A is offering an interest rate of 6.60% compounded monthly, while ...

Finite Math - Find the effective rate of interest corresponding to a nominal ...

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

math - If the interest on a sum is compounded quarterly, which of the following ...

Seneca - Henrietta went to a bank and obtained a personal loan with an interest ...