Find the nominal annual rate of interest convertible quarter

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1. Henry invests $1,323 at 9% pa simple interest and this investment grows over time to $1,514.49. Calculate the time period (t) over which Henry made the investment. Give your answer in days rounded to the nearest day.

2. An amount of $9,000 is invested on 15 July 2020 at 5% pa compounded quarterly. Calculate the interest (I) earned between 15 July 2024 and 15 July 2026. Give your answer in dollars and cents to the nearest cent.

3. Find the nominal annual rate of interest convertible quarterly (j4) that is equivalent to 5% pa effective. Give your answer as a percentage per annum to 3 decimal places

Reference no: EM132478338

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