Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![Exercises:
• Calculate the effective rate of 9 months at 2.44%, then 51 months at 3.13%?
· How much is the effective rate of 5 percent monthly for 36 months?
- What will be the effective rate of interest of 25% nominal rate compounded
annually for 5 years?
- Convert Annual Effective interest rate 13.5% per annual to Nominal Interest
Rate per annum compounded semi-annually.
•1/10/2021
•12](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F84541501-4812-4010-9f77-a7f7011a5c56%2Ff69c7c40-07f7-4fbd-8707-42e4a9988cae%2Fq5k8mdb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercises:
• Calculate the effective rate of 9 months at 2.44%, then 51 months at 3.13%?
· How much is the effective rate of 5 percent monthly for 36 months?
- What will be the effective rate of interest of 25% nominal rate compounded
annually for 5 years?
- Convert Annual Effective interest rate 13.5% per annual to Nominal Interest
Rate per annum compounded semi-annually.
•1/10/2021
•12
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