What is the effective interest rate of an investment

Assignment Help Business Economics

Reference no: EM13157248

You deposit $377 per month in a savings account in the Cayman Islands at an nominal annual interest rate of 5.57%. The interest earned is deposited back into the savings account at the end of each month. How much is this account worth after 28 years? Submit your answer to the nearest dollar. What is the effective interest rate of an investment if the nominal annual interest rate is 7.77% and it is compounded semi-annually? Express your answer as a percent to two decimal places.

Reference no: EM13157248

Questions Cloud

What is the price at this output level : What output level will the competitive firm choose in order to maximize its profit? What is the price at this output level?

Prepare a direct materials purchases budget : Prepare a direct materials purchases budget of fabric for ht last quarter of the year showing purchases in units and in dollars for each month and for the quarter in total.

Calculate the final temperature : 30.0 mL of water at 24.5 °C was mixed with 40.0 mL of water at 40.0 °C. If the specific heat of water is 4.184 J/g °C and no heat was absorbed by the calorimeter, then the final temperature is _____ °C. (Report to the proper number of significant ..

What would be the price charged in market : Assume the price charged in market 2 was $10, what would be the price charged in market 1?

What is the effective interest rate of an investment : How much is this account worth after 28 years? Submit your answer to the nearest dollar. What is the effective interest rate of an investment if the nominal annual interest rate is 7.77%.

Policy requiring the ending inventories : Company policy requires that ending inventories for each month be 15% of next month's sales. At the beginning of April, the beginning inventory of mats met that policy.

Probability randomly selected hen weighs more : What is the probability that a randomly selected from such a hen weighs more than 11.5 grams. What is the probability that the average of a random sample of 25 eggs from such hens will be less than 5.8 grams?

What contaminating proteins would likely co-purify : A standard procedure in purifying tubulin is to extract the tissue on ice, then add GTP and warm the tissue extract to 37°C. The warmed extract is then centrifuged at a speed insufficient to pellet average sized proteins, but sufficient to pellet ..

Define how many moles of copper atoms were lost : How many moles of copper atoms were lost? ii. The Faraday constant. iii. The charge of one electron. iv. The mass of one electron.

User Account

All Pages