Reference no: EM133176440
1. Determine the effective interest rate of 3% compounded weekly. Express your answer in decimal form, rounded correctly to four decimal places.
2. The effective interest rate is 0.035617971 . If the current interest rate is p% compounded daily, determine the value of p. Express your final answer as a percent rounded correctly to two decimal places.
The current rate is ___________
Also tell how it is compounded
options
a. annually
b. weekly
c. monthly
d. daily
3. Find an equivalent interest rate that is compounded monthly, knowing that the current rate is 4% compounded semi-annually. Express your final answer as a percent rounded correctly to two decimal places.
The equivalent rate is _______
Also tell how it is compounded
Options
a. annually
b. semi annually
c. monthly
d. daily
4. How many years will it take to pay off a loan of $10,000 if the current interest rate is 3.5% compounded monthly. Assume that you make equal sized payments of $450 at the end of every other week.
Since n = ________, we know it will take t = _______years to pay off the loan.
5. Determine the future value of a four-year payment stream of equal sized payments of $349 made at the beginning of each month, assuming that interest is 5% compounded monthly.
FV = $_________
6. Determine the fair market value today of a perpetuity that pays $500 at the beginning of every month. Assume an interest rate of 3.5% compounded bi-weekly.
P = $_________
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: 1. Determine the effective interest rate of 3% compounded weekly. Express your answer in decimal form, rounded correctly to four decimal places.
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