SOLUTION: Find the effective rate of interest.
50.11% compounded daily
a. 50.233%
b. 51.015%
c. 50.315%
d. 64.997%
Algebra.Com
Question 1046609: Find the effective rate of interest.
50.11% compounded daily
a. 50.233%
b. 51.015%
c. 50.315%
d. 64.997%
Answer by MathLover1(20850) (Show Source): You can put this solution on YOUR website!
% is the "nominal" rate of interest. It's compounded daily. To find the rate, you need to find the for year.
That would be .
So the effective rate is %, and your answer is
d. %
RELATED QUESTIONS
Find the effective rate of interest.
50.11% compounded daily
Possible answer:
(answered by robertb)
Find the effective rate of 8.5% compounded semiannually
A. 9.25%
B 8.68%
C. 6.35%
(answered by josmiceli)
Topic: Financial Mathematics
Is it A? I want to check my answer.
Which account has (answered by MathLover1,ikleyn)
1.) What rate (%) compounded quarterly is equivalent to 6% compounded semi-annually?
a. (answered by jim_thompson5910)
1. Use the given frequency distribution to find the
(a) class width.
(b) class... (answered by stanbon)
What is the future value of an ordinary annuity having daily payments of 50 pesos for 30... (answered by Theo)
A local bank advertises that it pays interest on savings accounts at the rate of 3%... (answered by robertb)
if the sum of money when compounded annually become 1140 in a 2 years & 1710 in 3 years... (answered by Theo)
Find the effective rate of interest.
4.75% compounded... (answered by rfer)