Anibal invests $4,250 at 6% loterest, compounded quarterly for 1 year. Calculate the effective interest rate for his investment. (Round to nearest hundredth percent.) 5.98% 6.00% O 6.14% 06.56%
Anibal invests $4,250 at 6% loterest, compounded quarterly for 1 year. Calculate the effective interest rate for his investment. (Round to nearest hundredth percent.) 5.98% 6.00% O 6.14% 06.56%
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:23 214-
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TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest)
Perlods
1%
2%
3%
4%
5%
6%
7%
8%
Perlods
1.05000
1.06000
1.12360
1.00500
1.01000
1.01500
1.02000
1.03000
1.04000
1.07000
LO8000
2
1.01003
1.02010
1.03023
1.04040
L.06090
1.08160
1.10250
1.14490
1.16640
3
1.01508
1.03030
1,04568
1.06121
L.09273
1.12486
1.15763
1.19102
1.22504
L.25971
3
4
1.02015
1.04060
1.06136
1.08243
1.12551
1.16986
1.21551
1.26248
1.31080
1.36049
4
1.02525
1.05101
1.07728
1.10408
1.15927
1.21665
1.27628
1.33823
1.40255
L.46933
1.03038
1.03553
1.06152
L.09344
1.12616
1.19405
1.26532
1.34010
1.41852
1.50073
1.58687
6.
7
1.07214
1.10984
1.14869
1.22987
1.31593
1.40710
1.50363
1.60578
1.71382
1.04071
1.08286
1.12649
1.17166
1.26677
1.36857
1.47746
1.59385
1.71819
1.85093
1.83846
1.96715
6.
1.04591
1.09369
1.14339
1.19509
1.30477
1.42331
1.55133
1.68948
1.99900
9
10
1.05114
1.10462
1.16054
121899
1.34392
1.48024
1.62889
1.79085
2.15892
10
11
1.05640
1.11567
1.17795
1.24337
1.38423
1.53945
1.71034
1.89830
2.10485
2.33164
11
12
1.06168
1.12683
1.19562
1.26824
1.42576
1.60103
1.79586
2.01220
2.25219
2 51817
12
2.71962
1.06699
1.07232
1.21355
1.23176
13
1.13809
1.29361
1.46853
1.66507
1.88565
2.13293
2.40985
13
14
1.14947
1.31948
1.51259
1.73168
1.97993
2.26090
2.57853
2.93719
14
15
1.07768
1.16097
1.25023
1.34587
1.55797
1.80094
2.07893
2.39656
2.75903
3.17217
15
16
1.08307
1.17258
1.26899
1.37279
1.60471
1.87298
2.18287
2.54035
2.95216
3.42594
16
2.69277
3.70002
17
1.65285
1.70243
17
1.08849
1.18430
1.28802
1.40024
1.94790
2.29202
3.15882
18
1.09393
L.19615
1.30734
1.42825
2.02582
2.40662
2.85434
3.37993
3.99602
18
19
1.09940
1.20811
1.32695
1.45681
1.75351
2.10685
2.52695
3.02560
3.61653
4.31570
19
20
1.10490
1.22019
1.34686
1.48595
1.80611
2.19112
2.65330
3.20714
3.86968
4.66096
20
1.11042
1.11597
5.03383
5.43654
21
1.23239
1.36706
1.51567
1.86029
2.27877
2.78596
3.39956
4.14056
21
22
1.24472
1.38756
1.54598
1.91610
2.36992
2.92526
3.60354
4.43040
22
23
1.12155
1.25716
1.40838
1.57690
1.97359
2.46472
3.07152
3.81975
4.74053
5.87146
23
5.07237
6.34118
2.03279
2.09378
1.26973
4.04893
24
1.60844
1.64061
24
1.12716
1.42950
2.56330
3.22510
25
1.13280
1.28243
1.45095
2.66584
3.38635
4.29187
5.42743
6.84848
25
Periods
10%
11%
12%
13%
14%
15%
16%
17%
18%
Periods
1.14000
1.29960
1.10000
1.13000
1.15000
1.16000
1.17000
L.18000
L11000
1.23210
1.09000
1.12000
1.25440
1.27690
1.32250
1.34560
1.39240
1.36890
1.60161
1.18810
1.21000
3.
1.29503
1.33100
1.36763
1.40493
1.44290
1.48154
1.52088
1.56090
1.64303
3
1
1.46410
1.87389
2.19245
4
1.41158
1.S1807
1.57352
1.63047
1.68896
1.74901
1.81064
1.93878
4.
1.53862
161051
1.68506
1.76234
1.84244
1.92541
2.01136
2.10034
2.28776
2.69955
3.18547
3.75886
4.43545
1.77156
2.08195
2.19497
2.31306
2.43640
2.56516
3.00124
3.51145
4.10840
1.67710
1.87041
1.97382
1.82804
1.94872
2.07616
221068
2.35261
2.50227
2.66002
2.82622
2.65844
2.47596
2.77308
3.10585
2.85259
3.05902
3.27841
3.80296
4,41144
1.99256
2.14359
2.30454
9
2.17189
2.35795
2.55804
3.00404
3.25195
3.51788
9
10
2.36736
2.59374
2.83942
3.39457
3.70722
4.04556
4.80683
5.23384
10
S.62399
6.58007
7.69868
11
2.58043
2.85312
3.15176
3.47855
3.83586
4.22623
4.65239
5.11726
6.17593
7.28759
5.35025
6.15279
3.89598
4.33452
4.81790
5.93603
12
3.13843
3.45227
3.79750
12
2.81266
3.49845
3.88328
4.36349
4.88711
13
3.06580
4.89801
5.49241
6.88579
8.59936
13
7.98752
9.00745
10.14724
10.53872 1197375
6.26135
7.07571
14
4.31044
4.78459
14
3.34173
5.53475
15
3.64248
4.17725
5.47357
6.25427
7.13794
8.13706
9.26552
15
6.13039
6.86604
7.06733
7.98608
9.35762
10.76126
10.74800
12.16768
14.16251
16.77652
12.33030
14.42616 16.67225
8.13725
9.27646
10.57517
12.05569
11.52309 13.74349
14.12902
16
5.31089
5.89509
16
3.97031
4.59497
17
4.32763
5.05447
17
18
4.71712
5.55992
6.54355
7.68997
9.02427
12.37545
16.87895
19.67325
18
19.74838
861276
9.64629
6.11591
23.21414
19
7.26334
8.06231
19
5.14166
ID.19742
14.23177
20
5.60441
6.72750
16.36654
19.16076
23.10560
27.39303
20
22.57448
21
10.80385
12.10031
13.55235
15.17863
17.00006
15.66758
17.86104
20.36158
23.2122
26.16192
18.82152
21.64475
21.89146
28.62518
32.91595
27,03355
31.62925
32.32378
7.40025
8.14027
8.94917
9.93357
13.02109
14.71383
16.62663
IN.78809
21.23054
6.10881
6.65860
21
22
26.18640
38.14206
22
37.00623
45.00763
43.29729 53. 10901
23
11.02627
12.23916
13.58546
30.37622
35.23642
40.87424
23
7.25787
8.95430
24
9.84973
10.83471
24
7.91108
50.65783 62.66863
25
25
8.62308
The values in Table 11-1 were generated by the formula FV= (-0 rounded to five decimal places, where i is the interest
rate per period and a is the total number of periods.
Transcribed Image Text:Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the
nearest cent and percents to the nearest hundredth of a percent)
Anibal invests $4,250 at 6% interest, compounded quarterly for 1 year. Calculate the effective interest rate for his investment. (Round to nearest hundredth percent.)
O 5.98%
O 6.00%
0 6.14%
O 6.56%
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