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Calculate the new interest rate compounded quarterly

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Question 1: If $13,376.39 was the interest earned on lending $100,400.00 for 8 years, what was the quarterly compounding nominal interest rate charged on the loan?

Question 2: A bank charges Solid Co. an interest rate of 4.75% compounded quarterly on its line of credit. If the effective interest rate increased by 0.75%, calculate the new interest rate compounded quarterly.

Question 3: A manufacturing company has 170 production people, 20 quality inspectors, 16 sales people, 7 marketing people, and 30 people in other departments such as HR, Finance, etc.

a. What percent of the total employees are quality inspectors? Round to two decimal places

b. If 5.88% of the production people quit their jobs, what percent of the total remaining employees are quality inspectors?

Reference no: EM132567730

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