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QUESTION 1 A -C A bank offers 8.00% on savings accounts. What is the effective annual rate if interest is compounded daily? Submit Answer format:

QUESTION 1 A -C

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A bank offers 8.00% on savings accounts. What is the effective annual rate if interest is compounded daily? Submit Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434)) A bank offers 5.00% on savings accounts. What is the effective annual rate if interest is compounded continuously? Submit Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434)) Assume a bank offers an effective annual rate of 7.63%. If compounding is quarterly what is the APR? Submit Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))

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