What is the nominal annual interest rate? %

Q: Find the monthly payment (in $) and the total interest (in $) for a mortgage of $42,000 at  5 1/4…

A: To find the total interest

Q: What monthly rate of interest is equivalent to 3.6% p.a. compounding semi-annually?

A: = final amount = Principal = interest rate = number of times interest applied per time…

Q: Using the APR table, how much interest would be charged for a $10,000 loan at 12.5% for 3 years?…

A: Consider the given information. PV=$10000 r=12.5% t=3 years And, the values are defined as.

Q: The annual effective rate is 5%.An annuity is paid continuously at a rate of P pounds per month.Its…

A:

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

A:

Q: An account has an annual interest rate of 5.3%,5.3%, compounded monthly. What is the annual…

A:

Q: When calculating present value, the _____ the interest rate, the smaller the present value amount.

A: Answer When calculating present value, the _____ the interest rate, the smaller the present value…

Q: Which of the following is the balance for a single $2,484 deposit in an account with an APR of 1.88%…

A: Given initial amount $2,484. Interest rate r=1.88% time t=37 years.

Q: A principal amount of $1,300 is placed in a savings account with an annual interest rate of 5.95%…

A: Given that, the principal amount of  is placed in a savings account with an annual interest rate of…

Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: Determine whether the following statement is true or false. Simple interest never earns more than…

A: Given The given statement is that the simple interest never earns more than compound interest.

Q: What effective rate of interest per quarter year is equivalent to 12% per two years effective?

A: Given that The rate of interest is 12% per annum. Time is Quarterly Here we use the concept Let x be…

Q: How would I find annual percentage yield? How is this different from the annual interest rate?

A: FIND: Annual percentage yield

Q: Use the appropriate account after the stated period of time to compute the balance in the $6,000 is…

A:

Q: A credit card charge 29% p.a interest compounded daily. Assuming that you borrow $3000 on the credit…

A:

Q: A principal amount of $14,390 is placed in a savings account with an annual interest rate of 3.13%…

A: The compound interest formula is:Where,  is the principal, is the annual rate of interest,  is the…

Q: Use PMT = . Round to the nearest dollar. Suppose that you borrow $10,000 for four years at 7%…

A: To Find: The monthly payments and the total interest for the loan.