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What is the effective rate for the year

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Q1- A financial institution quotes a rate of 4.55 percent compounded monthly. What is the effective rate for the year?

Q2- A financial institution quotes a rate of 2.36 percent compounded daily. What is the effective rate for the year using a 365 day year?

Q3- Felice Navidad purchases 2,000 shares of NOW Technology stock at $6 in Christmas 6 years ago. In Christmas of 2019 she sells the stock at $26 per share. What is Felice's internal rate of return?

Q4- Mr. Bates is creating a college fund for his daughter. He will put in $1590 at the end of each year for the next 15 years. He expects to earn 8.78% annually. How much money will his daughter have in her college fund?

Reference no: EM132747476

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