Suppose a savings account has a nominal rate of 3.83% and interest is compounded monthly. What is theaccount's effective annual yield?7State 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.]• Previous11*MD4%EEEE5hp>6no

Effective annual rate is the rate of interest which will be calculated after considering of the…

Suppose a savings account has a nominal rate of 3.83% and interest is compounded monthly. What is the account's effective annual yield? 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 ات

Suppose a savings account has a nominal rate of 3.83% and interest is compounded monthly. What is the account's effective annual yield? 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 ات

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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Similar questions

If Inez is charged an interest of $357.76 on a loan of $18946 for 2 months, calculate the rate of interest charged on the loan. (Calculate to two decimals and enter without the percent sign, eg 1.23% = 1.23 or 12.34% = 12.34) Answer:
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.
Calculating Interest Using 360 days as the denominator, calculate interest for the following notes using the formula I = P x R × T. Round your answers to the nearest cent. Principal Rate Time Interest $4,100 6.00% 30 days 1,000 7.50 60 3,500 8.00 120 950 6.80 95 1,250 7.25 102 2,600 7.00 90
write down an answer, without showing any work, you will receive only half credit for that problem if you are correct (anc rong). The point is that I want to see that you know how to set up each problem. Question 1 Calculate the effective interest rate for each nominal annual interest rate and compounding frequency shown. Round your answer to 2 decimal places. a. 12% Quarterly compounding b. 7% Semiannual compounding C. 14% Continuous compounding Upload Choose a File Question 2 You are looking at buying a new sorting machine for recycling plastics that sod 6 11-15od
If a bank compounds savings accounts monthly, the effective annual rate is greater than the nominal rate Group of answer choices True False
Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using the APR formula. (Round dollar amounts to the nearest cent and percentages to one decimal place.) AmountFinanced Number ofPayments MonthlyPayment FinanceCharge APR $18,300 72 $424.08 $ %
Using the simple interest formula I= Prt, compute the amount of interest earned on $1141.00 at 8.06% p.a. for 193 days. The interest eamed is $. (Round the final answer to the nearest cent as needed. Round all internadiate values to six decimal places as needed.) Enter your answer in the answer box.
Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using the APR formula. (Round dollar amounts to the nearest cent and percentages to one decimal place.) AmountFinanced Number ofPayments MonthlyPayment FinanceCharge APR $100,000 72 $2,025.50
Calculating Interest Using 360 days as the denominator, calculate interest for the following notes using the formula I = P x R × T. Round your answers to the nearest cent. Principal Rate Time Interest $5,000 6.00% 30 days 1,000 7.50 60 4,500 8.00 120 %24 950 6.80 95 1,250 7.25 102 2,900 7.00 90 %24 %24
am. 44.
Note: Round all answers to the nearest cent when necessary. Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for the following installment loan. Purchase(Cash)Price DownPayment AmountFinanced MonthlyPayment Number ofPayments FinanceCharge TotalDeferredPaymentPrice $2,600 0 $2600 $189.69 18 $814.42 $ ??
Find the finance charge on an unpaid balance of $1219.27 in a revolving charge account if the monthly interest rate is 1.5%. The finance charge is $ (Round to the nearest cent.) ...

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