Reference no: EM133629957
Questions
1. How long will it take ?$695.00 to accumulate to $849.00 at 6?% p.a. compounded monthly??
State your answer in years and months? (from 0 to 11? months).
The investment will take____ year(s) and ____?month(s) to mature.
2. If an investment of $1046.00 earned interest of ?$380.00 at 6.9?% compounded quarterly, for how many years and months was the money? invested? State your answer in years and months? (from 0 to 11? months).
The money was invested for_____?year(s) and_____month(s).
3. What is the nominal annual rate of interest compounded semi-annually at which ?$1660.00 will accumulate to $2619.62 in three years and six months??
The nominal annual rate of interest is_____?
4. At what nominal annual rate of interest will money double itself in six years, three months if compounded quarterly??
The nominal annual rate of interest for money to double itself in six years, three months is_____? per annum compounded quarterly.
5. What is the effective annual rate of interest if ?$800.00 grows to ?$1300.00 in two years compounded quarterly??
The effective annual rate of interest as a percent is_____?
6. If $1166.00 accumulates to $1449.46 in two ?years, six months compounded quarterly, what is the effective annual rate of? interest?
The effective annual rate of interest is____%?