Respond to this Question
Similar Questions

math
also, what formula would i have to use for this: Effective Rate An advertisement for E*TRADE bank boasted "We're ahead of banks that had a 160yr start," with an APY (or effective rate) of 2.01%.* The actual rate was not stated. 
Math  Compound
If a bank offers interest at a nominal rate of 6%, how much greater is the effective rate if interest is compounded continuously than if the compounding is quarterly? I don't get this question at all... All I'm given is the rate 
math help plz!
DigiCom wants to drop the effective rate of interest on its credit card by 2%. If it currently charges a nominal rate of 8% compounded daily, at what value should it set the new nominal rate? Note: Please make sure your final 
Math
Find the effective rate corresponding to the given nominal rate. (Round your answer to the nearest hundredth of a percentage point.) (a) 4%/year, compounded quarterly ? % (b) 3%/year, compounded monthly ? % 
Math
Find the effective rate corresponding to the given nominal rate. (Round your answer to the nearest hundredth of a percentage point.) (a) 4%/year, compounded quarterly ? % (b) 3%/year, compounded monthly ? % 
math
you have deposited 1000 dollars in your savings account with n annual interest rate of 4 percent compounded monthly. how much money are you going to have in your account after six months? [(1+ 0.04/12)]^6 x 1000 = ?? is the answer 
Finite Math
Find the effective rate of interest corresponding to a nominal rate of 6%/year compounded annually, semiannually, quarterly, and monthly. (Round your answers to two decimal places.) 
math
Shannon invests $3,000, at 8% interest, compounded quarterly for one year. Use Table 111 to calculate the effective interest rate for her investment. (Round the effective rate to the nearest hundredth percent.) 
math
Compute effective rate of interest where nominal rate is 8% compounded quarterly? 
Calc
How much money will we have in 6 months if we invest $1000 into an account earning 8% compounded continuously? How long will it take the $1000 to double? What is the effective rate for 8% compounded continuously that would produce