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1. Using the example of a savings account, explain the difference between the effective annual rate and the annual percentage rate
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- Define each of the following terms: h. Replacement chain; economic life; capital rationing; equivalent annualannuity (EAA)What is the Cumulative interest payment?Explain the difference between each of the following pairs of terms. For each you must include an example to support your answer. a) common difference and ratio b) annuity and compound interest c) compounding period and total time of a loan or investment
- What is the Times-interest·earned ratio?In some banks the interest on the deposit depends on the amount on the account. Derive the difference equation describing the growth of your deposit in this situation taking the conversion period a and interest rate p(N).Explain the term equivalent nominal annual rate (ENAR),?
- The discount rate used in a net present value analysis is the ________. A. rate of interest earned on a savings account B. rate of inflation C. rate of interest charged for debt financing of an investment D. required rate of return or the hurdle rateIn the case of installment notes, interest expense is calculated as a constant percentage of the carrying value. True or FalseDefine each term and state three characteristics for each term a- Pay-back period b- Discounted Pay-back period C- Internal Rate of Return (IRR)