What is the daily compound rate of interest

Reference no: EM13541252

An engineer in a developing country observes that his project bankaccount has grown from 1,600,000 to 1,769,279 (local currencyunits) in 20 days with no deposits or withdrawals being made. He knows the account interest is compounded daily.

(a) What is the daily compound rate of interest, in percent, earnedon the account?

(b) What is the effective annual interest rate?

Reference no: EM13541252

Questions Cloud

Where can grep be found for windows for linux : What is grep? Where can grep be found for Windows? For Linux?

What are the options for developing a simulation model : What are the options for developing a simulation model? What are the fundamental trade-offs?

Describe three different ways to generate random numbers and : Describe three different ways to generate random numbers and explain for each of the four properties (from (a0) which is “yes” and which is “no”.

Determine the magnitude of theacceleration at the instant : A car travels along a horizontal circular curved road that has aradius of 600 m. If the speed is uniformly increased at a rate of2000 km/ h2 , determine the magnitude of theacceleration at the instant the speed of the car is 60 km/h.

What is the daily compound rate of interest : An engineer in a developing country observes that his project bankaccount has grown from 1,600,000 to 1,769,279 (local currencyunits) in 20 days with no deposits or withdrawals being made. He knows the account interest is compounded daily.

What was the distance between the markers : The acceleration of a particle traveling along a straight line is A= (0.02e^t) m/s^2, where t is in seconds. If v=0, s=0 when t = 0, determine the velocity and acceleration of the particle at S= 4m

Determine the young modulus for a metal whose : Determine the young's modulus for a metal whose elasic limit isone half of its UTS. The material has a strain of 0.002 at theelastc limit and a gauge length of 50mm. The UTS of the metal is300 MPa. The metal sample has a diameter of 20mm.

Draw the shear and moment diagrams,ensuring to label : The joists from the previousquestion are supported by concrete beams that are 300mm wide by 500mm deep. The concretebeams span 8.4m. Assume the beam is also simply supported. The weight of the joistis 1.04 KN/m.

Determine the maximum concentrated load : Determine the maximum concentrated load that can be applied at the center of a 6 in. X 6 in. simply-supported plain concrete beam before it cracks in tension.

User Account

All Pages