Question
1. You deposit $5806 into a savings account that earns an APR of 3.40% compounded annually. What will be the balance in the account after
1. You deposit $5806 into a savings account that earns an APR of 3.40% compounded annually. What will be the balance in the account after 5 full years (assuming no further deposits)?
2. You deposit $3080 into a savings account that earns an APR of 4.90% compounded quarterly. What will be the balance in the account after 7 full years (assuming no further deposits)?
3. A bank account pays 5.20% APR with monthly compounding. What is the Effective Annual Rate ('Yield') of this account?
4. A bank account pays 2.80% APR with continuous compounding. What is the Effective Annual Rate of the account?
5. Your initial balance of $13200 grows to $17500 in 7 full years. What was the average annual Geometric growth rate?
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The Sterling Bonds And Fixed Income Handbook
Authors: Mark Glowrey
1st Edition
0857190423, 978-0857190420
