menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Business Mathematics
  4. Exam
    Exam 8: Compound Interest: Future Value and Present Value
  5. Question
    What Is the Nominal Rate of Interest If the Periodic
Solved

What Is the Nominal Rate of Interest If the Periodic

Question 98

Question 98

Short Answer

What is the nominal rate of interest if the periodic rate is:
a) What is the nominal rate of interest if the periodic rate is: a)   per month? b) 5.8% per year? per month?
b) 5.8% per year?

Correct Answer:

verifed

Verified

a) 7.00% compounded ...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q93: Teresita has three financial obligations to the

Q94: Sun Life Financial offers a five-year compound-interest

Q95: If the inflation rate for the next

Q96: A $4000 loan at 10% compounded monthly

Q97: Assume that a $10,000 investment can earn

Q99: Calculate the missing value: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB9643/.jpg" alt="Calculate

Q100: Calculate the original principal: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB9643/.jpg" alt="Calculate

Q101: A compound-interest GIC will earn 5% compounded

Q102: What amount two years from will be

Q103: A debtor owing payments of $750 due

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines