Find the effective yield, to the nearest hundredth of a percent, of an account paying 3.2% compounded monthly.
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- what is the annual percentage yield for an account that earns 6.1 % intreast compounded continouslyAn account has nominal rate of 5.7%. Find the effective annual yield, rounded to the nearest hundredth of a percent, with quarterly compounding, monthly compounding, and daily compounding. How does changing the compounding period affect the effective annual yield?Suppose that a three-year FRN pays a six-month Libor plus 4% semi-annually. Currently, the six-month Libor is 2%. The price of the floater is 90 per 100 of par value. What is the discount margin?
- What is the annual percentage yield (APY) for money invested at an annual rate of 5% compounded continuously?An account that compounds interest daily has an annual percentage yield of 5.9%. What is the annual interest rate for the account? Round your answer to the nearest tenth of a percent.A passbook savings account has a rate of 6%. Find the effective annual yield, rounded to the nearest tenth of a percent, if the interest is compounded monthly. The effective annual yield is _____%. Please show work
- Given the following credit term, 2/7, n/21, what is the effective annual equivalent percentage?Suppose you saw a sign at your local bank that said, "3.3% rate compounded quarterly – 3.7% Annual Percentage Yield (APY)." Is there anything wrong with the sign? Explain. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. A. Yes. The APY is incorrect. The correct APY is ------%. (Round to the nearest hundredth as needed.) B. Yes. The number of compounding periods is incorrect. Interest should be compounded daily. C. No. The information on the sign is correct.Estimate the annual percent rate for the add on loan Using the given number of payments and annual interest-rate. Use the formula APR = 2nr/n+1 N= 48; R= 8% APR=???
- Solve the problem. Round to the nearest tenth of a percent. A=P1+rnnt P=A1+rnnt A=Pert Y=1+rnn−1 A passbook savings account has a rate of 5%. Find the effective annual yield if the interest is compounded daily. Assume 360 days in a year(Annual percentage yield) Compute the cost of the following trade credit terms using the compounding formula, or effective annual rate. Note: Assume a 30-day month and 360-day year. a. 4/10, net 60. b. 2/15, net 45 c. 4/10, net 60 d. 3/10, net 30 a. When payment is made on the net due date, the APR of the credit terms of 4/10, net 60 is%. (Round to two decimal places) sco en S 45Find the nominal rate compounded semi annually which is equivalent to 20% compounded quarterly. What is the corresponding effective rate?