# find the effectivee rate correspoding to 3% compounded quarterly The formula for effective rate I found is (1+ i/n)^n - 1 where i is the annual rate as a decimal and n is the number of periods. Here i=.03 so

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### math

find the effectivee rate correspoding to 3% compounded quarterly The formula for effective rate I found is (1+ i/n)^n - 1 where i is the annual rate as a decimal and n is the number of periods. Here i=.03 so the effective rate is and n is 4 since there are 4 compounding ...

### 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 answer(s) are in percentage form and are accurate ...

### 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

N(t)=2000e^(1.1t) the continuous growth rate is 110% effective growth rate?__% Q(t)=65e^(0.09t) continuous growth rate is 9% effective growth rate?__% G(t)=650e^(0.055t) continuous growth rate is 5.5% effective growth rate?__% round to 2 decimal places when necessary for ...

### math

An amount of $3000 was deposited in a bank at a rate of 2% annual interest compounded quarterly for 3yrs. The rate then increased to 3% annual interest and ws compounded quarterly for the next 3 yrs. If no money was withdrawn what was the balance at the end of this time?

### 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 1020.164? You got it. well theres another part...

### 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 160-yr start," with an APY (or effective rate) of 2.01%.* The actual rate was not stated. Given that interest was compounded monthly, find...

### 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 and how am I suppose to compare compounded ...

### Math

The annual interest rate on an investment is 8%. What is the quarterly rate? (a) 1% (b)12% (c) 16% (d)2% (e)3% Can someone help me figure out the formula for finding out the quarterly rate?

### math modeling

Suppose that you invested $1,442 at the annual rate of 4.60% compounded continuously, and your friend invested $885 at the annual rate of 6.35% compounded quarterly. In how quarters will your friends investment exceeds yours?

### 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

Compute effective rate of interest where nominal rate is 8% compounded quarterly?

### math

Shannon invests $3,000, at 8% interest, compounded quarterly for one year. Use Table 11-1 to calculate the effective interest rate for her investment. (Round the effective rate to the nearest hundredth percent.)

### Finite Math

Find the effective rate corresponding to the given nominal rate. (Round your answer to two decimal places.) 11%/year compounded semiannually

### Fins nance business

1. Find the future value of current $1,000 5 year from now when annual interest rate 8% is compounded annually 2. Find the present value of a future value (1,000) four years from now when annual interest rate 8% is compounded quarterly. 3.Find the present value of a four year...

### Finance

What is the effective annual rate on a certificate of deposit that promises to pay interest at a 6.6 percent rate, compounded monthly?

### Accounting

How would I find the formula for these problems? Please help me.. I would really appreciate it.. thank you Calculate the present value of the following: $7,000 in 5 years at an annual discount rate of 6% $7,000 in 5 years at a semiannual discount rate of 6% $7,000 in 5 years ...

### math

find the compound ammount $1000 at 6% compounded annually for 8 years Use A=P*(1+i)^n where P=1000, i=.06 and n=8 P is the Principal, i is the annual interest rate expressed as a decimal,and n in the number of periods in the compounding period. BTW, are you the one who asked ...

### 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 the same accumulated amount after 1 year as 8...

### finance

14. Assume Julian has a choice between two deposit accounts. Account A has an annual percentage rate of 7.55 percent but with interest compounded monthly. Account B has an annual percentage rate of 7.45 percent with interest compounded continuously. Which account provides the ...

### math- pre calculus

you are depositing $1000 dollars in a savings account and are given the following options. 6.2% annual interest rate, compounded annually 6.1% annual interest rate, compounded quarterly 6.0% annual interest rate, compounded continuously for each option, write a function that ...

### Math

How do I do this? -- can anyone give me a formula to find the answers? Example: Find the annual rate of simple interest~ P: 5000 / I: 650 / T: 3 years. PV = nRT I=PRT so solving for R we get R=I/(PT) plug in your values and evaluate. Your answer will be a decimal which you ...

### Financing and Accounting

How would I find the formula for these problems? Please help me.. I would really appreciate it.. thank you Calculate the present value of the following: $7,000 in 5 years at an annual discount rate of 6% $7,000 in 5 years at a semiannual discount rate of 6% $7,000 in 5 years ...

### Math

Bank A is offering an interest rate of 6.60% compounded monthly, while bank B is offering an interest rate of 6.67% compounded quarterly. The effective rate offered by bank A =?%, while the effective rate offered by bank B = ?%.

### calc

What rate of interest compounded quarterly will yield an effective interest rate of 8%?

### Math

Mr. Nielson wants to borrow $1,000 for 2 years. He is given the choice of i) simple interest at 12%, or ii) a loan at 10% compounded monthly. Which loan results in less interest due ? b) What interest rate compounded quarterly will give an effective interest rate of 7% ?

### business pre-cal

Find the annual rate, r that produces an effective annual yield of 6.3% when compounded continuosly.

### economics

Picabo borrows $1,000. To repay the amount she makes 12 equal monthly payments of $90.30. Determine the following: (a) The effective monthly interest rate (b) The nominal annual interest rate (c) The effective annual interest rate

### accounting statistics

Find the balance at the end of 6 years of $5000 investment in an account with a nominal annual rate of interest of 2.5% compounded quarterly over the first two years and then grows according to nominal annual rate of discount of 6% convertible monthly over the remaining 4 ...

### Math~

Given Interest Rate 3.75% Compounded Quarterly Equivalent Interest Rate _?_% Compounded Semi-annually formula is: i2=(1+i)^(m2/m1) -1 the answer should be 3.77%. i have alot of similar questions like this...but i need to know how to get that same answer. i tried using the same...

### Business finance

In a discount interest loan, you pay the interest payment up front. For example, if a 1-year loan is stated as $10,000 and the interest rate is 10 percent, the borrower “pays” 0.10 x $10,000 = $1,000 immediately, thereby receiving net funds of $9,000 and repaying $10,000 ...

### Math! plz help!

Calculate the future value of quarterly payments of $1200 for 5 years, if the rate of interest was 10% compounded quarterly for the first 2 years and will be 9% compounded quarterly for the last 3 years. I solved for both which i got aFV= $10483.34 bFV= $16322.67 to get this ...

### math

how long will it take to earn $787.50 on $5000 at 5 1/4%(percent) what is the rate it is compounded? annually, semi-annually, monthly, what? dat information is not given aren't you supposed to be using the interest rate formula? if so, then u have two variables missing, the n ...

### math

an account which pays 14% compounded quarterly, what is the effective rate of yield?

### business mathemathics

sharry made a desposit of $860 to open a savings account that pays intrest at an annual rate of 8% compound quarterly. If she keeps her original desposit in the savings account and is paid intrest of four quarters, she will earn intrest in the first year of __________. Her ...

### math

Find the effective rate corresponding to the given nominal rate. (Round your answer to the nearest hundredth of a percentage point.) (a) 7%/year, compounded daily % (b) 6%/year, compounded monthly %

### calculus

A corporation starts to invest part of its revenue continuously at rate of P dollars per year in a fund for future expansion plans. Assume the fund earns money at an annual interest rate, r, compounded continuously. The rate of growth of the amount A in the fund is given by dA...

### finance

Calculate the rate of interest compounded yearly (j) equivalent to 8% pa compounded quarterly. Give your answer as a percentage per annum to 3 decimal places.

### algebra

In an episode from the TV show Futurama, Phillip J. Fry had $0.93 in his bank account in 2000. In the year 3000 it had grown to $4.3 billion! What was the percent interest rate (to three decimal places) if it had been continuously compounded? What was the percent interest rate...

### Math

Tia is investing $2500 that she would like to grow to $6000 in 10 years. At what annual interest rate, compounded quarterly, must Tia invest her money? Round your answer to two decimal places.

### math

The effective rate of interest corresponding a nominal rate of 7% p.a. convertible quarterly is:

### Finance

Pasqually Mineral Water, Inc., will pay a quarterly dividend per share of $1.40 at the end of each of the next 12 quarters. Thereafter, the dividend will grow at a quarterly rate of 1.2 percent, forever. The appropriate rate of return on the stock is 10 percent, compounded ...

### algebra

Find the accumulated value of an investment of $10,000 for 3 years at an interest rate of 6% if the money is a)compounded seiannually,b)compounded quarterly, c) compounded monthly, d) compounded continually

### Seneca

Henrietta went to a bank and obtained a personal loan with an interest rate of 3.18% compounded monthly. if the effective interest rate on the loan were to decrease by 1%, calculate the new nominal rate compounded monthly?

### Math

If a community clinic invested $3,000 in excess cash today, what would be the value of its investment at the end of three years: a. at a 12 percent rate compounded semiannually? B. at a 12 percent rate compounded quarterly?

### Correted Bob can you re-check?

So i pretty much had them right the first time with the first set of answers i just needed to round up? 1. $5000.00 compounded annually at 6% for 5 years= $6,691.13? 2. $5000.00 compounded quartley at 6% for 5 years= $6,719.58? 3. $5000.00 compounded quartley at 65 FOR 5 YEARS...

### Algebra Help please!

I already posted this question,and Henrey answered it. I just wanted to clarify a few things to make sure I am on the right track Problem: Joanie takes a $6,000 loan to pay for her car. The annual interest reate on the loan is 12%. She makes no payments for 4 years, but has to...

### math

How much interest is earned from a $3,000 investment at an annual rate of 4% compounded quarterly for 2 years?

### MATH

Determine the future value of a $25000 investment at an annual rate of 4.85% compounded quarterly for 6 years.

### finances

Calculate the future value of the following: o $5,000 compounded annually at 6% for 5 years o $5,000 compounded semiannually at 6% for 5 years o $5,000 compounded quarterly at 6% for 5 years o $5,000 compounded annually at 6% for 6 year What conclusions can be drawn about the ...

### math

Find the present value of $31,000 due in 4 yr at the given rate of interest. (a) 6%/year, compounded quarterly $ ? (b) 3%/year, compounded quarterly $ ?

### math

Find the present value of $31,000 due in 4 yr at the given rate of interest. (a) 6%/year, compounded quarterly $ ? (b) 3%/year, compounded quarterly $ ?

### math

Find the present value of $31,000 due in 4 yr at the given rate of interest. (a) 6%/year, compounded quarterly $ ? (b) 3%/year, compounded quarterly $ ?

### Finite Math and Applied Calculus

Betty Sue sets up a retirement account. For the first 35 years, she deposits $500 at the end of each month into an account with an annual interest rate of 3.6%, compounded monthly. Then, she stops making monthly payments and transfers the money into a different account with ...

### checking answers please help

1. $5000.00 compunded annually at 6% for 5 years= $6,691.1279 or $6,312.38? 2. $5000.00 compounded quartley at 6% for 5 years= $6,719.5819 or 8,744.37? 3. $5000.00 compounded quartley at 65 FOR 5 YEARS= $6,734.2750 or 3,64.86? 4. $5000.00 COMPOUNDED ANNUALLY FOR AT 6% FOR 6 ...

### Finance

1. $5000.00 compunded annually at 6% for 5 years= $6,691.1279? 2. $5000.00 compounded quartley at 6% for 5 years= $6,719.5819? 3. $5000.00 compounded quartley at 65 FOR 5 YEARS= $6,734.2750? 4. $5000.00 COMPOUNDED ANNUALLY FOR AT 6% FOR 6 YEARS= $7,092.5956...

### Engineering Economics

Hi there, I am having some trouble solving this problem, can you give some guidance as to the solution. What is the amount of 10 equal annual deposits that can provide five annual withdrawals, when a first withdrawal of $1000 is made at the end of year 11, and subsequent ...

### Finance

Kim has money in a savings account that earns an annual interest rate of 4.1%, compounded monthly. What is the effective rate of interest on Kim's account? Round to the nearest hundredth of a percent.

### math

An investment of 25,000 earns interest at an annual rate of 8.4% compounded continuosly a. find the instantaneous rate of change of the amount in the account after years b. find the instantaneous rate of change of the amount in the account at the time the amount is eqaul to 30...

### math

I need to calculate the effective interest rate of a simple discount note $21,750 at an ordinary bank discount rate of 7.91% for 120 days find the effective rate

### Math

The Orange County Teachers' Credit Corp. offers an account which pays 14% compounded quarterly. What is its effective rate of yield?

### math

Compute the effective rate of interest given the nominal rate of 7 3/8% compounded monthly

### Math Personal Finance

Assume we invest $2000 for one year in a savings account that pays an APR (Annual Percentage Rate) of 10% compounded quarterly. The compound interest formula is: Balance after t periods = Principal × (1 + r)t The final balance using the compound interest formula is $______.

### algebra

Compound interest word problem. Suppose JJ has $1000 that he invests in an account that pays 3.5% interest compounded quarterly. How much money does JJ have at the end of 5 years? Formula: A= The amount of money earned after a certain length of time. P= The amount of money you...

### College Algebra

bank a is lending money at 5.7% interest compounded annually. The rate at bank b is 5.6% compounded monthly, and the rate at bank C is 5.65% compounded quarterly. Which bank will you pay the least interest?

### math

What is the value of an initial investment of $2300 after twelve years if the interest accrued is compounded quarterly, and the annual rate is 6.5%?

### math help plz!

Calculate the future value of quarterly payments of $1200 for 5 years, if the rate of interest was 10% compounded quarterly for the first 2 years and will be 9% compounded quarterly for the last 3 years.

### programming

Having troube with java, i am not a regular programmer, if anybody can help me out writting this program: write a program that takes two numbers from the java console representing, respectively, an investment and an interest rate(you will expect the user to enter a number such...

### math

Phillip opened a savings account with an annual interest rate of 8% and an initial deposit of $3500. If his interest is compounded quarterly, how much is in Jeffrey’s account after 2 years? Round your answer to the nearest cent. interest compounded quarterly: A equals P left...

### math!

Swan Furnace Cleaners wants to add 0.50% to the effective rate of interest on its credit card. If it currently charges a nominal rate of 4.25% compounded semi-annually, at what value should it set the new nominal rate? The answer for this question is 4.74%, the formula for ...

### Finance

Loan Payments - If you take out an $8,000 car loan that calls for 48 monthly payments APR of 10 percent, what is your monthly payment? What is the effecgive annual interest rate on the loan? the montly rate is 0.10/12=.0083333... then 8000= payment[1-(1.0083333)^-48]/0....

### Math

What is the value of a stock that grows at a supernormal rate of 18% for the first four years, and then slows down to a constant growth rate of 10%? An annual dividend of $2.00/share was just paid, and the rate of return on common stock is 13%. Possible Solution: For a ...

### Math

Swan Furnace Cleaners wants to add 0.50% to the effective rate of interest on its credit card. If it currently charges a nominal rate of 4.25% compounded semi-annually, at what value should it set the new nominal rate? The answer for this question is 4.74%, the formula for ...

### Fianacial Management in Health Care Organizations

Resource: Ch. 5 of Financial Management in Health Care Organizations. „h Calculate the future value of the following: o $5,000 compounded annually at 6% for 5 years o $5,000 compounded semiannually at 6% for 5 years o $5,000 compounded quarterly at 6% for 5 years o $5,000 ...

### Math

1. An assessment rate is 47%. The property tax is $39.94 per $1,000. What is the effective tax rate? Round to the nearest tenth of percent. 2. A property tax rate is $7.79 per $100 of assessed value. what is the tax rate as a decimal? Please help.

### math

write the exponential function y=71(1.19)^t in the form y=ae^kt. find k accuarate to 4 decimal places. find the exact annual growth rate and the continuous % growth rate accurate to 2 decimal places.

### math

a loan of $8,500 compounded quarterly for five years at 8% what is the effective interest rate for the loan

### Math

Find the future value of an ordinary annuity of $70 paid quarterly for 5 years, if the interest rate is 10%, compounded quarterly. (Round your answer to the nearest cent.)

### maths

answer of the effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half -yearly is

### Math

If the value of $1 is 1.082431 in one year at 8 % compounded quarterly, what is the effective interest rate? (a)82.4% (b)8% (c)0.824% (d)8.24% (e)824.31%

### Math

If the value of $1 is 1.082431 in one year at 8% compounded quarterly, what is the effective interest rate? (a) 82.4% (b) 8% (c) 0.824% (d)8.24% (e) 824.31%

### math

a land company has a loan of $8,500 compounded quarterly for 5 years at 6% what is the effective interest rate for the loan?

### compounded interest

A bank offers a rate of 5.3% compounded semi-annually on its four year GICs(Guaranteed Investment Certificates). What monthly and annually compounded rates should it quote in order to have the same effective interest rate at all three nominal rates?

### algebra

To find the amount A in an account after t years with principal P and an annual interest rate r compounded continuously, you can use the formula

### math

A deposit of $2,000 earns interest at a rate of 14% compounded quarterly. After two and a half years the interest rate changes to 13.5% compounded monthly. How much is in the account after six years?

### value of money

A deposit of $2,000 earns interest at a rate of 14% compounded quarterly. After two and a half years the interest rate changes to 13.5% compounded monthly. How much is in the account after six years?

### Algebra - Question about Answers

I would like to know if my answers are correct. A principal of 6500.00 is invested in an account paying an annual rate of 4%. Find amount in acct after 4 years if acct is compounded semiannually, quarterly and monthly. Semiannually - 7615.79 Quarterly - 7621.76 Monthly-7613.64

### business maths

For an investment to double in value during a 12-year period, a. What annually compounded rate of return must it earn? (Round your answer to two decimal places.) Annually compounded rate of return % b. What monthly compounded rate of return must it earn? (Round your answer to ...

### Compound Interest

Swan Furnace Cleaners wants to add 0.50% to the effective rate of interest on its credit card. If it currently charges a nominal rate of 4.25% compounded semi-annually, at what value should it set the new nominal rate? The answer for this question is 4.74%, the formula for ...

### Math

Serena wants to borrow $15 000 and pay it back in 10 years. Interest rates are high, so the bank makes her two offers: • Option 1: Borrow the money at 10%/a compounded quarterly for the full term. • Option 2: Borrow the money at 12%/a compounded quarterly for 5 years and ...

### Math

How to calculate this? 4 year term investment. The investment offers a rate of 2.25% per annum, compounded semi-annually. Another investment offers a rate of 2.25% annum, per compounded quarterly. Final investment offers a rate of 1.95% per annym, simple interest.

### Finance

Calculating Interest Rate. Find the interest rate implied by the following combinations of present and future values. PresentValue Years Future Value $400 11 $684 $183 4 $249 $300 7 $300 Since you do not state otherwise, I am assuming that your interest rate is compounded ...

### Finance

The Carter Company's bond mature in 10 years have a par value of 1,000 and an annual coupon payment of $80. The market interest rate for the bond is 9%. What is the price of these bonds The coupon rate on the bond, (interest/principal at maturity) = 8% Since prevailing market ...

### please check my answers

1. $5000.00 compounded annually at 6% for 5 years= Answer $6,691.13? 2. $5000.00 compounded quartley at 6% for 5 years= Answer $6,719.58? 3. $5000.00 compounded quartley at 65 FOR 5 YEARS= Answer $6,734.28? 4. $5000.00 compounded annually at 6% FOR 6 YEARS= Answer $7,092.60...

### PRE-CAL

Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.) Initial Investment== ? Annual % Rate== ? Time to Double== 11YRS Amount After 10 Years== $1600 Using formula A=Pe^rt ?

### math

You receive $12,000 and looking for a bank to deposit the funds. Bank A offers an account with an annual interest rate of 3% compounded semiannually. Bank B offers an account with 2.75% annual interest rate compounded continuously. Calculate the value of the two accounts at ...

### math

You receive $12,000 and looking for a bank to deposit the funds. Bank A offers an account with an annual interest rate of 3% compounded semiannually. Bank B offers an account with 2.75% annual interest rate compounded continuously. Calculate the value of the two accounts at ...

### Finance

You receive $12,000 and looking for a bank to deposit the funds. Bank A offers an account with an annual interest rate of 3% compounded semiannually. Bank B offers an account with 2.75% annual interest rate compounded continuously. Calculate the value of the two accounts at ...