I f Topic 2: Linear Equations AT 9. A passbook savings account has a rate of 6%, Find the effective annual yie if the interest is compounded daily. Assume 360 days in a year. (Round to the nearest tenth of a percent, if necessary. For example, 20.5%) n 0.06 360 =C1+9 - C 1 36C -(t0.0a1 666) 360-1 . oo01 6666 360-1 3-1 360 1 1, o0ul 10
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- 9. A passbook savings account has a rate of 6%. Find the effective annual yie if the interest is compounded daily. Assume 360 days in a year. (Round to the nearest tenth of a percent, if necessary. For example, 20.5%) C1+0.06 360 36 0 -( 0.0aul 666) 360- .0001 6666) 360- :0.6183 x 100o y6.18 39 or 1.06183- O. 06183 ond dedms percent Suppose that you earned a bachelor's degree and now you're teaching middle school. The school district offers teachers the opportunity to take a year off to earn a master's degree. To achieve this goal, you depos it $1500 at the end of every 3 months in an annuity that pays 5.5% compounded quarterly. (a) How much will you have saved at the end of 11 years? (b) Find the interest. (Round to the nearest dollar. For example, $247) V= Px LC)-1 R tnre st e- Tetar dnsis 893 603621 6 Ciseoyi 360,36aie $3, 860, 36 cob 1soox 375) e s01373 केम 1s a 3,26 O rewdea 15000,3757 O1375 - 1300 5.9069 898601 36216 randed &9,660 Yea s at tre CndSuppose a savings account has a nominal rate of 3.83% and interest is compounded monthly. What is the account's effective annual yield? 7 State your answer as a percentage rounded to 1 decimal place. [Only give the numerical answer. Do not enter a percentage sign (%) in the answer box.] • Previous 11 * M D 4 % EEEE 5 hp > 6 noSuppose you deposited $1,000 in a credit union account that pays 7% with dailycompounding and a 365-day year. What is the EFF%, and how much could youwithdraw after 7 months, assuming this is seven-twelfths of a year? [EFF% = (1 +0.07/365)365 - 1 = 0.07250098 = 7.250098%. Thus, your account would growfrom $1,000 to $1,000 (1.07250098)0.583333 = $1,041.67, and you could withdraw that amount.]
- Assume you take out a $2000 loan for 30 months at 9% APR. What is the monthly payment? (Round your answer to 2 decimal places.) N: months I %: P.V: $ PMT: $ F.V: 0 P/Y: 12 C/Y: 12If you were to use the TVM Solver to determine how much money would be in an account (that earns 1.2% interest compounded monthly) after 32 years when $175 was deposited into the account at the end of each month, then you would enter N = 1% = PV = PMT = FV = and P/Y = C/Y = Which of the variables above did you solve for (N, 1%, PV, PMT, or FV)?Suppose your credit card issuer states that it charges a 24.00% nominal annual rate, but you must make monthly payments, which amounts to monthly compounding. What is the effective annual rate? O a. 26.29% b. 31.12% O c. 29.51% d. 26.82% e. 21.19%
- 8. Computing APY. What would be the annual percentage yield for a savings account that earned $56 in interest on $800 over the past 365 days? pe here to search Cop 17 10 16 40 12 3 7. 4. 96 立 %24 3. %23Assume you make a single deposit of $1000 into a savings account that pays interest at 0.5% per month. If you want to know how much the accountwill be worth in 5 years, the only values you can use for i and n area. Effective i per month and n = 60b. Effective i per quarter and n = 30c. Effective i per semiannual period and n = 10d. Either (a) or (c)HW 2.4. Please help
- An interest problem: Suppose $1000 is invested in an account paying interest at a continuous rate of 6% a year. What is the A.P.R. for this loan? A. 6% B. 6.18% C. 5.82% D. 1.06Part a. Loan payments you borrow $100,000 over a period of 30 years at a fixed APR of 5.5% calculate the monthly payment Part b. Determine the total amount paid, then figure out what percentage is paid towards the principal and what percentage is paid for interest. Please solve part A and B they go together. I included an example problemQ2: Consider a saving account that offers a nominal interest rate of 5% per annum and payable weekly compounded. What is the effective interest rate (%)? Hint: Consider 52 weeks in a year 5.124 5 5.114 5 5.134 5 5.144 55