Earl Miller deposited $25,000 at Y Bank at an interest rate of 12% compounded quarterly. (Use the tables in the handbook.) The effective rate (APY) is: (round to the nearest hundredth percent, if applicable) Multiple Choice None of these 12.55% 12.15%

Earl Miller deposited $25,000 at Y Bank at an interest rate of 12% compounded quarterly. (Use the tables in the handbook.) The effective rate (APY) is: (round to the nearest hundredth percent, if applicable) Multiple Choice None of these 12.55% 12.15%

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Earl Miller deposited $25,000 at Y Bank at an interest rate of 12% compounded quarterly. (Use the tables in the handbook.) The effective rate (APY) is: (round to the
nearest hundredth percent, if applicable)
Multiple Choice
None of these
12.55%
12.15%
O 12%
13.2%
i 7:15
M

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First American Bank charges 10.8 percent compounded monthly on its business loans. First Fifth Bank charges 11 percent compounded semiannually. Calculate the EAR for each bank. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) f3 First National Bank First United Bank % % As a potential borrower, which bank would you go to for a new loan? ** f4 f5 f6 Search ムー 17 4+ First National Bank hp f8 fg f10 144 DII DDI f11
First City Bank pays 5 percent simple interest on its savings account balances, Second City Bank pays 5 percent interest compounded annually. If you made a deposit of $13,500 in each bank, how much more money would y from your Second City Bank account at the end of 11 years? (Do not round inter calculations and round your answer to 2 decimal places, e.g., 32.16.) Difference
The Deposit value on 10/1/20 is 4X. Not 8X.
A bank offers 10.21 percent compounded semi-annually on its business loans. Calculate the EAR. Select one: a.10.07% b.9.63% c.11.03% d.10.47%
The amount of interest on $X for two years is $330. The amount of discount on $X for one year is $144. Find the annual effective interest rate i and the value of X. (Round your answer for i to two decimal places. Round your answer for X to the nearest cent.) ¡ = 9.42 X X = $ 1672.66 X Submit Answer %
An amount of $3000.00 is deposited in a bank paying an annual interest rate of 5 % compounded daily. Find the balance after 4 years. A $4,567.98 B $3,664.16 $3,540.27 D $3,001.50 None of these
3. Scott deposits 80 today into an account that credits a nominal interest rate of 6% compounded quarterly. pe Roberta deposits X today into an account that credits a nominal discount rate of 4% compounded semi-annually (twice per year). After 18 years, the balance in Scott's account is equal to the balance in Roberta's account. Determine X.
DaNeeka deposits $141 at the end of every month into an account that earns 2.91% compounded semi- annually. Find the accumulated value, and interest earned in 6 years and 6 months. Round all answers to two decimal places if necessary. P/Y = PV = $ Interest Earned = $ C/Y= PMT= S N = FV = $ 1/Y = % (round to the nearest cent); (enter a positive value, rounded to the nearest cent)
Label all final answers with the correct units, if applicable. Unless otherwise stated, use 4 decimal places for intermediate computations of interest rates (if needed) then round off final answers to two decimal places. For monetary amounts, use 2 decimal places even for intermediate computations. 1. If P5,000 is invested in a time-deposit for 2 years in a bank that offers 4% annual interest compounded quarterly, how much interest will be earned at the end of 2 years?
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