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D E 1 CLR Lesson & Objective # CLR 10 L11: Obj.1 Question Q1: A sum of $2000 borrowed at 16% compounded daily for 2

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D E 1 CLR Lesson & Objective # CLR 10 L11: Obj.1 Question Q1: A sum of $2000 borrowed at 16% compounded daily for 2 2 years, state 3 (a) The nominal rate of interest (i); 4 5 (b) The number of compounding periods per year (m); 5 6 7 (c) The periodic rate of interest (i); 8 9 10 11 (d) The number of compounding periods in the term (n); mention days 12 13 14 15 (e) Find the future value of the loan at the end of 2 years 16 17 18 19 D E 1 CLR Lesson & Objective # CLR 10 L11: Obj.1 Question Q1: A sum of $2000 borrowed at 16% compounded daily for 2 2 years, state 3 (a) The nominal rate of interest (i); 4 5 (b) The number of compounding periods per year (m); 5 6 7 (c) The periodic rate of interest (i); 8 9 10 11 (d) The number of compounding periods in the term (n); mention days 12 13 14 15 (e) Find the future value of the loan at the end of 2 years 16 17 18 19

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