The half-yearly nominal rate of discount convertible monthly is 3.5%. Calculate the force of interest per annum which is equivalent to this interest rate. (correct answer = 7.02050) no tables, ONLY formulas, please)

Q: . A savings account with £8,250 earns £660 simple interest after 4 Years. What is the annual rate of…

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Q: 7) You deposit $3,000 into a savings account. You earn 4% interest compounded annually. Complete the…

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Q: The principal represents an amount of money deposited in a savings account subject to compound…

A: Given that,

Q: Answer

A: We find required amount.

Q: Prinicpal                13,800 Rate %                  9.4 Time                      3 3/4…

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Q: This Question: 1 pt Find the APY corresponding to the following nominal rate. 4% compounded…

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Q: Marta borrowed $1,850 from Jasper on November 26, 2019, and agreed to repay the debt with simple…

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Q: Calculate the total worth of an investment in dollars after six months with a principal of 10,000…

A: simple interest formula: total worth = simple interest + principal =I+P simple interest I=PTR/100…

Q: Consider the simple interest, find how many years it will take to get total $320 if the principal is…

A: Simple Interest Formula: A=P1+rt where A= Final amount P= Initial amount r=rate of interest t=time…

Q: 1. Kevin invests $725 at 5.2%/a simple interest. What is the total amount in Kevin's account at the…

A: For principal amount P, and simple interest r%/a, the amount after t years         = P(1 + rt/100)

Q: Describe the difference between simple and compound interest.

A: We will find out the required solution.

Q: Change the annual rate to a monthly rate. 9.8% = %3D

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Q: Nathan and Stephanie are saving for their daughter's college education. Their daughter, Paige, is…

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Q: The principal represents an amount of money deposited in a Principal savings account subject to…

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Q: Find the interest of P50,000.00 deposited in a bank that pays 5 ½ % in 165 days. (Hint: 1 year 360…

A: Solution

Q: 3. Maria borrows $12 000 at 9%/a interest compounded monthly for 10 years. How much money will she…

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Q: Lashonda takes out a loan for her college tuition from a bank that charges simple interest at an…

A: using,   simple  interest = p×r×t where, p= principal              r= rate%             t= time .

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

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Q: Find the simple interest. Assume a 360 day year. $5764.61 at 5.4% for 67 days. The simple interest…

A: We have to find the simple interest using given information.