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  • Question

  • 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

  • Correct Answer
  • 2 

    Explanation

    i=j/m

    • Tags: Bank Exams, Bank PO

    Compound Interest problems

    Search Results

    • 1. Calculate the periodic interest rate corresponding to 9.5% compounded monthly

    • Options
    • A. 0.7916
    • B. 0.8916
    • C. 0.9916
    • D. 0.6916
      • Discuss
    • 2. 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
    • 3. 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
    • 4. 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
    • 5. 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
    • 6. 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
    • 7. 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
    • 8. 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
    • 9. 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
    • 10. Other things being equal, would an investor prefer an interest rate of 10.5% compounded monthly or 11% compounded annually for a two-year investment?

    • Options
    • A. 1232
    • B. 1243
    • C. 1254
    • D. 1262
      • Discuss

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