Sue Li deposited $200.00 into a savings account that compounded interest semi-annually. What nominal annual rate compounded semi-annually was earned on the investment if the balance was $585.30 in three years? The nominal annual rate of interest is% per annum compounded semi-annually. (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

Sue Li deposited $200.00 into a savings account that compounded interest semi-annually. What nominal annual rate compounded semi-annually was earned on the investment if the balance was $585.30 in three years? The nominal annual rate of interest is% per annum compounded semi-annually. (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

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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James made an initial deposit into an account of $1,000 at time t = 0, followed by five annual deposits of $200 at times t = 1,2, 3, 4, 5. James will receive payments from the account at times t = 7, 8, 9, starting at $1,500 and decreasing by $X per year. The balance in the account after the last payment is $0. Determine X given an effective annual interest rate of 7%. Hint: Sketch a time diagram to see the payments. Possible Answers A $490 but < $530 D 2 $530 but < $570 E 2$570
If Paige has accumulated $6000 by saving $110 every month for four years, what nominal annual rate of interest compounded semi-annually has been earned? The nominal annual rate of interest is compounded semi-annually. (Round to two decimal places as needed.)
A deposit of $800 is planned for the end of each year into an account paying 8 percent/year compounded annually. The deposits were not made for the tenth and eleventh years. All other deposits were made as planned. What amount will be in the account after the deposit at the end of year 25? Select one: a. $59,537 b. $55,397 c. $53,597 d. $55.397
Halep Inc. borrowed $34,059 from Davis Bank and signed a 2-year note payable stating the interest rate was 8% compounded annually. Using the Present Value of an Annuity of 1 TABLE4, calculate the factor. Next, determine the annual payment amount. Then, determine the interest portion of the payment for year 1. Finally, determine the principal portion of the payment for year 1. Round to the nearest penny, two decimal places.
Lee Holmes deposited $16,100 in a new savings account at 8% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $41,100 at 8% interest compounded semiannually. At the end of 6 years, what is the balance in Lee's account? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Balance $
Person A deposits $ 1,000 in a bank account at the beginning of each year for 15 years. If the investment of person A is evaluated with an effective interest rate of 4% per annum for the first 5 years, 5% per annum for the second 5 years and 6% per annum in the third 5 years, calculate the accumulated value at the end of 15 years. Thanks
On October 1, Lorelai made a single deposit of $12,000 into an investment account which earns interest of 8% compounded annually. Question: Rounded to the nearest whole dollar, what will be the balance in her account at the end of nine (9) years?
Anna borrows 188000 from a bank for a term of 21 years. The loan is to be repaid by level annual repayments, paid in arrears, and the interest rate is 5% per annum effective. Calculate the capital outstanding immediately after the 6th payment. Give your answer to two decimal places.
A person borrowed an amount of one million dinars from a bank with compound interest, the annual rate of which is 10%, and it was agreed between the debtor and the creditor to pay the loan and the interest together in 3 equal installments, so that the installment would be paid at the end of each year. What is required is: a. Find the amount of the equal installment. B . Illustrate the appropriate depreciation schedule.
A person deposited an amount of 1000 dinars in a savings account, what is the accumulated amount in that account after 6 years if the interest rate is 16%, paid once every six months, and four times annually???
A payment of $140 was made at the beginning of each month for 9 years into a savings account. After that the accumulated amount was left on the account for 7.5 years. The interest rate on the account is 3.4% compounded semi-annually. Find the interest earned on the account.
Zachary deposited $1,200 at the end of every month into an RRSP for 6 years. The interest rate earned was 3.50% compounded semi-annually for the first 4 years and changed to 3.75% compounded monthly for the next 2 years. What was the accumulated value of the RRSP at the end of 6 years? Round to the nearest cent

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