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What is annual effective rate that their customers paying

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Question - Americo Inc., advertises that they pay 12% APR compounded daily on your money if you deposit $500 a month for 5 years. How much will you have accumulated at the end of 5 years?

If a credit card is charging you 21% per annum, compounded weekly, what is the rate you are paying?

You-Will-Never-Pay-It-Off Loan Company lends you $150 on Monday, and you have to pay $250 after 15 days. If you kept the money for a year on the same terms, how much will you owe at the end of the year. Assume the company compounds money on a 15-day basis.

If You-Will-Never-Pay-It-Off Loan Company lends you $150 on Monday, and you have to pay $250 after 15 days, what effective rate of interest is it charging? Assume the company compounds money on a 15-day basis.

Atriatics, Inc., charges its credit customers 2.65% interest per month, compounded monthly. What is the annual effective rate that their customers are paying?

If you deposit $3,000 at the end of every quarter in a savings account that pays a nominal APR of 6% per year, compounded weekly, how much will you have at the end of a year?

If you decide not to pay an effective interest rate on a credit card above 15%, what is the maximum APR that you will be ready to pay a card for which the interest is compounded daily?

If You-Will-Never-Pay-It-Off Loan Company lends you $50 on Monday, and you have to pay $60 after a week, what nominal rate of interest (APR) are they charging?

Reference no: EM133133983

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