SOLUTION: Given the rate per compounding period find r, the annual rate.
4.95% per half-year
R=%
Algebra.Com
Question 1182409: Given the rate per compounding period find r, the annual rate.
4.95% per half-year
R=%
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
.
To find the nominal annual rate in this problem, multiply the given semi-annual rate per half-year by 2, the number of halves in a year.
Remember, that doing this way, you obtain only "nominal" annual rate - not the actual annual rate of the account.
RELATED QUESTIONS
Given the rate per compounding period, find r, the annual rate.
0.45%per month... (answered by ikleyn)
Given the annual interest rate and the compounding period, find i, the interest... (answered by ikleyn)
Given the annual interest rate and the compounding period, find i, the interest... (answered by ikleyn)
Given the annual interest rate and the compounding period, find i, the interest... (answered by ikleyn)
Given the annual interest rate and the compounding period, find i, the interest... (answered by ikleyn)
Given the annual interest rate and the compounding period, find i, the interest... (answered by Alan3354)
If money is invested at an interest rate of 5.8 percent per year, find the annual percent (answered by Theo)
You can earn 5% per year compounded annually for the next 4 years, followed by 8% per... (answered by LinnW)
The principle represents an amount of money deposited in a savings account subject to... (answered by jorel1380)