travisalier6826 travisalier6826

10-09-2017
Business

contestada

Charter bank pays a 5.00% nominal rate on deposits, with monthly compounding. what effective annual rate (eff%) does the bank pay?

Respuesta :

YellowGold YellowGold

21-09-2017

In order to compute for the effective annual rate, the working equation would be [( 1 + i/n)^n] – 1. The i corresponds to the nominal rate while n is the number of compounding periods per year which in this case is 12. The answer would be 5.116%.

Answer Link

Otras preguntas

Samsara is an idealistic person who is exposed to chronic stress in her emotionally draining job as an air traffic controller. The BEST term to describe what Sa

A 60 kg box is pushed horizontally across the floor a distance of 20 meters. The force required is 15 N. In this effort, how many joules of work are done?

To meet the labor demands of tobacco cultivation and harvest, early Virginians relied first on

In the lab, robyn has two solutions that contain alcohol and is mixing them with each other. Soultion A is 6% alcohol and Solution Bis 20% alcohol. She uses 400

At the end of its first month of operations, Michael’s Consulting Services reported net income of $25,000. They also had account balances of: Cash, $18,000; Off

A 75 gram bar of gold is cut into three equal pieces. How does the density of each piece compare to the density of the original bar? 1. Each piece is 1/3 the de

1. What are two similarities between the four U.S. states that border Mexico? 2. What are two differences?

What is the standard form of (7 - 5i)(2 + 3i)? A. 29 + 11i B. -11 + 29i C. 11 - 29i D. -29 + 11i

-23=5+ 4x what does x equals?

A solution is saturated when 25.0 grams of the solute is dissolved in 100.0 grams of solvent. When a new solution is made that has 40.0 grams of solute dissolve