travisalier6826 travisalier6826

10-09-2017
Business

contestada

Charter bank pays a 5.00% nominal rate on deposits, with monthly compounding. what effective annual rate (eff%) does the bank pay?

Respuesta :

YellowGold YellowGold

21-09-2017

In order to compute for the effective annual rate, the working equation would be [( 1 + i/n)^n] – 1. The i corresponds to the nominal rate while n is the number of compounding periods per year which in this case is 12. The answer would be 5.116%.

Answer Link

Otras preguntas

Image courtesy of the Maine Office of Tourism Describe three different ways this ad was most likely constructed. Be sure to include reasons why it was const

Which of the following was considered a problem with the Articles of Confederation?

Classify each number as natural, whole, integer, rational, or irrational, -25

"what is the most common reason that a ceo is terminated"

which shape has 4 sides with only one pair of parallel sides? click to see answers.

some atoms are exceptions to the octet rule by having an expanded octet. which characteristic of needed for an atom to have an extended octet

3. the Harlem renaissance was a rebirth of the ______ of the African american community. A. social and political power B. musical and literary talent**** C. ec

How are water and nutrients transported through bryophytes?

What is the magnitude of the gravitational acceleration on this planet??

Paying attention to the correct use of? dashes, choose the best written item. choose one answer. a. agatha? -- can be very? generous, when she feels like it.