I need help with these two question 9) Find the effective rate corresponding to the given nominal rate. (Use a 365-day year. Round your answer to two decimal places.) 2%/year compounded quarterly %/year 10)Suppose payments will be made for 9 1/4years at the end of each month from an ordinary annuity earning interest at the rate of 2.25%/year compounded monthly. If the present value of the annuity is $43,000, what should be the size of each payment from the annuity? (Round your answer to the nearest cent.)
I need help with these two question 9) Find the effective rate corresponding to the given nominal rate. (Use a 365-day year. Round your answer to two decimal places.) 2%/year compounded quarterly %/year 10)Suppose payments will be made for 9 1/4years at the end of each month from an ordinary annuity earning interest at the rate of 2.25%/year compounded monthly. If the present value of the annuity is $43,000, what should be the size of each payment from the annuity? (Round your answer to the nearest cent.)
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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I need help with these two question
9) Find the effective rate corresponding to the given nominal rate. (Use a 365-day year. Round your answer to two decimal places.)
2%/year compounded quarterly
%/year
10)Suppose payments will be made for 9 1/4years at the end of each month from an ordinary
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