Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 4) if the card's interest rate from problem 3 abov

4) If the card's interest rate from problem 3 above is later changed as 3.5%...

80.2K

Verified Solution

Question

Accounting

image

4) If the card's interest rate from problem 3 above is later changed as 3.5% per quarter, find the effective semiannual and annual rates. a) 7.12%, 17.5% b) 7.12%, 14.75% c) 7%, 17.5% d) 7%, 12.5% 5) Pablo wants to help children in need because he's an awesome guy. He will deposit $1000 now, $3000 4 years from now, and $1500 6 years from now. Earning at a rate of 11.7% per year, compounded semiannually, what amount can he donate to the children 10 years from now? a) $11.6K b) $13.4K c) $9.2K d) $21.1k 6) Given: i. A deposit of $1k every month for 5 years ii. 40.0% interest per year iii. Compounding period is per quarter Find: Amount in the account at the end of 5 years with no interperiod compounding a) $150K b) $172K c) $89K d) $222K

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students