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- Question
Calculate the periodic interest rate corresponding to 9.5% compounded monthly
Options- A. 0.7916
- B. 0.8916
- C. 0.9916
- D. 0.6916
- Correct Answer
- 0.7916
Explanationi=j/m
- 1. Calculate the periodic interest rate corresponding to:9.0% compounded quarterly
Options- A. 3.45
- B. 2.25
- C. 5.25
- D. 6.25 Discuss
- 2. A loan is made for $4800 with an APR of 12% and payments made monthly for 24 months. What is the payment amount? What is the finance charge?
Options- A. 622.80
- B. 522.80
- C. 322.80
- D. 632.80 Discuss
- 3. A loan is made for $3500 with an interest rate of 9% and payments made annually for 4 years. What is the payment amount?
Options- A. 8906
- B. 1089
- C. 1070
- D. 1080.34 Discuss
- 4. Find the finance charge for an average daily balance of $8431.10 with monthly interest rate of 1.4%
Options- A. 98.04
- B. 88.04
- C. 68.04
- D. 118.04 Discuss
- 5. A retirement benefit of $12,000 is to be paid every 6 months for 25 years at interest rate of 7% compounded semi-annually. Find (a) the present value to fund the end-of-period retirement benefit. (b) the end-of-period semi-annual payment needed to accumulate the value in part (a) assuming regular investments for 30 years in an account yielding 8% compounded semi-annually
Options- A. 245678
- B. 234689
- C. 281468.06
- D. 234578 Discuss
- 6. For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is 4.2
Options- A. 1
- B. 2
- C. 3
- D. 4 Discuss
- 7. For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is 8.4
Options- A. 1
- B. 2
- C. 3
- D. 4 Discuss
- 8. For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is:2.1
Options- A. 1
- B. 2
- C. 3
- D. 4 Discuss
- 9. For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is:0.7
Options- A. 9
- B. 10
- C. 11
- D. 12 Discuss
- 10. Determine the nominal rate of interest if: The periodic rate is 0.83% per month
Options- A. 7%
- B. 8%
- C. 9%
- D. 10% Discuss
Compound Interest problems
Search Results
Correct Answer: 2.25
Explanation:
i=j/m
Correct Answer: 622.80
Correct Answer: 1080.34
Explanation:
A=R[(1+i)^n-1]/i(1+i)^n
Correct Answer: 118.04
Explanation:
0.014*8431.10
Correct Answer: 281468.06
Explanation:
R=S[i/(1+i)^n-1]
Correct Answer: 2
Explanation:
i=j/m
Correct Answer: 1
Explanation:
m=j/i
Correct Answer: 4
Explanation:
i=j/m
Correct Answer: 12
Explanation:
i=j/m
Correct Answer: 10%
Explanation:
j=mi
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