What rate of interest compounded annually is the same as the rate of interest of 6% compounded semiannually? a. 5.29% 6.09% c. b. 6.192% d. 6.02%
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Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
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- A saving account earns compound interest at an annual effective interest rate i. Given that d12,41 = 0.08, Find i1,51- %3DWhich of the following formulas should be used to compute for the compound interest rate? -b+/b²-4ac a. r = (m)(100%) 2a b. = [(1 + r2) (m,)(100%) c. r2 = [(1+)m1 – 1](100%) %3D m2. %3D n |F d. r= - 1) (m)(100%)Use this formula to identify each item listed below ??=250((1+0.042512)12×15−1)÷(0.042512)FV=250((1+0.042512)12×15−1)÷(0.042512) payment compounded Interest rate time
- *see attached What is the total unearned interest income? a. 3,052,705b. 2,652,705c. 2,252,705d. 6,000,000which one is correct please confirm? QUESTION 31 What is the effective rate of interest on a CD that has a nominal rate of 9.5 percent with interest compounded monthly? a. 9.86% b. 9.93% c. 10.02% d. 9.74%If a credit card you are interested in has an APR of 24%, what would the Daily Periodic Rate (DPR) be? Express your answer as a percent. A. .000658% B. . 0658% C. . 24% D. 2%
- Find the effective rate of interest corresponding to a nominal rate of 5.5% compounded seminannually. Answer choices: 5.645% 5.91% 5.558% 5.569%An effective rate of interest which is 6%, is equivalent to what percent if compounded continuously? 5.83% 6.83% 7.83% 8.83%Question7. Down payment Interest rate Terms Loan Amount 0 48 4% 4.12% 4.25% 4.75% Find the mortgage payment for the terms and interest rates given 100000 60 72 84
- Determine the future value of the following single amounts: Invested Amount Interest Rate No. of Periods1. $ 15,000 6% 122. 20,000 8 103. 30,000 12 204. 50,000 4 12ests - X þver Reference Reference Present Value of Ordinary Annuity of $1 Present Value of $1 Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 0.905 0.820 | 0.744 0.676 0.614 | 0.558 0.508 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% us Period 1 Period 2 Period 3 Period 4 Period 5 0.935 0.952 0.943 0.935 1.859 1.833 1.808 0.926 0.917 0.909 0.893 0.877 0.870 1.783 1.759 1.736 2.577 2.531 2.487 0.990 0.990 0.980 0.971 0.962 | 0.952 0.980 0.961 0.943 0.925 0.907 0.971 0.942 0.915 0.889 0.864 0.961 0.924 0.888 0.855 0.823 0.951 0.906 0.863 0.822 0.784 0.943 0.917 0.909 0.893 | 0.877 0.842 0.826 0.797 0.769 0.772 0.751 0.712 0.675 0.658 | 0.641 0.708 0.683 0.636 | 0.592 0.572 0.552 0.516 0.482 0.650 0.621 0.567 0.980 0.971 0.962 0.862 0.847 0.833 0.926 0.862 0.847 0.833 1.566 | 1.528 2.174 2.106 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.855 2.798…The following are a number of values taken from compoundinterest tables involving the same number of periodsand the same rate of interest. Indicate what each ofthese four values represents.(a) 6.71008. (c) .46319.(b) 2.15892. (d) 14.48656.