fatimathebest1332 fatimathebest1332

08-02-2022
Business

contestada

3. A thousand dollars is invested for 7 months at an interest rate of 1% per month. What is the nominal interest rate per year

Respuesta :

11901781 11901781

13-02-2022

Nominal interest = 1%/month * 12month/1 year

nominal interest rate =12%/ year

Effective interest rate = (1+1%)^12-1 = (1+1/100)^12 -1 = 12.68%

Answer Link

Otras preguntas

pleaseeeeeee help :)

Define Trapezium, kite, isosceles Trapezium

The government gives public funds to low-performing schools for new computers. They decide to give more money to the lowest performers, some of which happen to

50x what equals 4,000

A ___________ is how strong the push or pull is

50x what equals 4,000

How do I solve the following equation: M=33395(.006875)(1.38939833)

Describe the general relationship between latitude and temperature.

Balance of trade relies on a country's ability to balance the goods that are sold with the goods that are bought internationally. T or F

What is the definition of a universal symbol ?