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A bank offers 8.00% on savings accounts. What is the effective annual rate if interest...

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Finance

A bank offers 8.00% on savings accounts. What is the effective annual rate if interest is compounded semi-annually?

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Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))

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#6

Derek has the opportunity to buy a money machine today. The money machine will pay Derek $34,503.00 exactly 3.00 years from today. Assuming that Derek believes the appropriate discount rate is 5.00%, how much is he willing to pay for this money machine?

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Answer format: Currency: Round to: 2 decimal places.

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#7

Assume the nominal rate of return is 6.42% and the inflation rate is 1.53%. Find the real rate of return using the exact formula.

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Answer format: Percentage Round to: 0 decimal places (Example: 9%, % sign required. Will accept decimal format rounded to 2 decimal places (ex: 0.09))

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