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(5 points) We are given the interest as a nominal annual interest rate of 5.5% compounded quarterly. We are asked to consider the following 21
(5 points) We are given the interest as a nominal annual interest rate of 5.5% compounded quarterly. We are asked to consider the following 21 annual payments: 1380, 1380 + 10X, 1380 + 20X, ..., 1380 + 200X a) Find the effective periodic interest rate to be used in the calculations below. Answer = %. b) Express the accumulated value of the payments at the time of the last payment in terms of X. Use a precision of at least 5 decimals. Answer = Help: Entering formula c) Express the present value of the payments, one year before the first payment, in terms of X. Use a precision of at least 5 decimals. Answer = Help: Entering formula (5 points) We are given the interest as a nominal annual interest rate of 5.5% compounded quarterly. We are asked to consider the following 21 annual payments: 1380, 1380 + 10X, 1380 + 20X, ..., 1380 + 200X a) Find the effective periodic interest rate to be used in the calculations below. Answer = %. b) Express the accumulated value of the payments at the time of the last payment in terms of X. Use a precision of at least 5 decimals. Answer = Help: Entering formula c) Express the present value of the payments, one year before the first payment, in terms of X. Use a precision of at least 5 decimals. Answer = Help: Entering formula
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