What is the effective interest rate

Reference no: EM13555085

1.The boiling temperature of water decreases about 3 oC for every 1,000 meter rise in altitude. Find the rate of decrease in units of

a) K b)F,

c)R

for each 1,000m rise in altitude.

2.A student bought a $75 used guitar and agreed to pay for with a single $85 payment at the end of the 6 months. assuming semiannual (every 6 months) compounding, what is the normal annual interest rate? what is the effective interest rate?

Reference no: EM13555085

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