At what nominal rate of interest compounded monthly will $400 earn $100 interest in four years?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
PV 40000 I 10000 FV 50000 n 48 C Y 12 50000 400...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Question Posted:
Students also viewed these Finance questions
-
What nominal rate of interest compounded monthly is equivalent to an effective rate of 6.2%?
-
At what nominal rate of interest compounded semi-annually will $6900 earn $3000 interest in five years?
-
What is the nominal rate of interest compounded monthly at which payments of $200 made at the end of every three months accumulate to $9200 in eight years?
-
Multiple Choice Questions 1. Direct materials are not usually easily traced to a product. A) True B) False 2. Product costs can be classified as one of three types: direct materials, direct labor, or...
-
Consider the following sample data: a. Construct a scatter plot and verify that estimating a simple linear regression model is appropriate in this problem. b. Calculate b0 and b1. What is the sample...
-
In a survey of introductory statistics students, an instructor asked her students how many flip-flops they have. Suppose that the intent is to study whether there is an association between number of...
-
How does factor proportions theory compare to international product life cycle theory?.L01
-
Perform a horizontal analysis for the MLC income statement (Table 4-7) for 2011 and 2012. Write an explanation of this analysis.
-
Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 62,000 to 102,000 units is given...
-
The random variables X and Y are jointly normally distributed and U, V are defined by U = X cos a + Y sin a,V Y cos a-X sin a. If U and V are uncorrelated, find the angle a.
-
Many people dont understand the amount of interest they are actually paying on their credit cards. What is the effective rate of interest corresponding to a credit card that is advertised at 2% per...
-
Find the nominal annual rate of interest (a) At which $1500 will grow to $1800 in four years compounded monthly; (b) At which money will double in seven years if compounded quarterly; (c) If the...
-
Discuss why it is important to study matter.
-
What are the major immediate concerns for the HR manager in Austral Group SAA when merging two different organizational cultures - in this case, Peruvian and Norwegian cultures?
-
Explain the relation between the corporate, business and functional strategies. Please produce an in-depth explanation.
-
Consider the problem of terrorism during Radical Reconstruction. If you had been an adviser to the President, how would you propose to deal with the problem? Give a minimum of TWO examples and fully...
-
describe at least one element of an Airport Master Plan. Discuss the importance of this element and how it fits into the overall Airport Master Plan document to include its processes and objectives.
-
It is suggested that Wikipedia has replaced the hardback encyclopedia books, such Encyclopedia Brittanica. What other ways do you foresee technology changing businesses that have been around for...
-
Construct a cumulative frequency table for the tally table you constructed in question 23. Question 23 Use the data given in question 22 to construct a tally table for the grades. Use intervals 5160,...
-
What is an insurable interest? Why is it important?
-
What kind of restaurant location can exist without parking? LO-6
-
Find the current yield of National Semiconductor Corp. (NSM) that reported a dividend of $0.32 and a closing price of $14.05?
-
Find the P/E ratio of a corporation that reported last year's net income of $4.85 per share if the company's stock sells for $33.65 per share?
-
What is the price per share of the LPEVX mutual fund at the beginning of the year from Table 15 - 4?
-
why would an auditor want to complete dual-purpose tests? what procedure can be put into place to help prevent fraud? List 4 procedures.
-
Based on the following information, calculate sustainable growth rate for Groot, Inc.: Profit margin= 7.1% Total asset turnover = 1.90 Total debt ratio = .45 Payout ratio = 20% What is the ROA here?
-
Consider the following: a call option on a stock has strike price $100, premium of $5 and the current price of the underlying stock is $100. If you buy the call option today, what is your holding...
Study smarter with the SolutionInn App