Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please don't calculate using excel. please do it using formula 1. biyu deposits $400 in an account paying a nominal interest rate 9.650% compounded quarterly.
please don't calculate using excel.
please do it using formula
1.
biyu deposits $400 in an account paying a nominal interest rate 9.650% compounded quarterly. devi deposits $1,200 in an account paying a nominal interest rate i(365). After 15 years they have the same amount in their accounts. What is i(365)?
2.
ram deposits $100 in an account paying an effective weekly interest rate 0.14135%. biyu deposits $250 in an account paying an effective interest rate j26. After 24 years they have the same amount in their accounts. What is j26?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started