1. A bank charges 1.5% per month on a loan. Find the equivalent nominal rate of interest. 2. A financing company charges 1.5% per month on a loan. Find the equivalent effective rate of interest. 3. A...

Hello please answer correctly

1. A bank charges 1.5% per month on a loan. Find the equivalent nominal rate of interest.<br>2. A financing company charges 1.5% per month on a loan. Find the equivalent<br>effective rate of interest.<br>3. A nominal rate of 12% compounded monthly is equal to an effective rate of interest.<br>4. Convert 16% compounded semi-annually to equivalent nominal rate which is<br>compounded daily.<br>5. Find the accumulated amount of P 1000 after 5 years when deposited in a bank at a rate<br>of 16% compounded monthly.<br>

Extracted text: 1. A bank charges 1.5% per month on a loan. Find the equivalent nominal rate of interest. 2. A financing company charges 1.5% per month on a loan. Find the equivalent effective rate of interest. 3. A nominal rate of 12% compounded monthly is equal to an effective rate of interest. 4. Convert 16% compounded semi-annually to equivalent nominal rate which is compounded daily. 5. Find the accumulated amount of P 1000 after 5 years when deposited in a bank at a rate of 16% compounded monthly.

Jun 11, 2022

SOLUTION.PDF

Sun	Mon	Tue	Wed	Thu	Fri	Sat
30	31	1	2	3	4	5
6	7	8	9	10	11	12
13	14	15	16	17	18	19
20	21	22	23	24	25	26
27	28	29	30	1	2	3

1. A bank charges 1.5% per month on a loan. Find the equivalent nominal rate of interest. 2. A financing company charges 1.5% per month on a loan. Find the equivalent effective rate of interest. 3. A...

Get Answer To This Question

Related Questions & Answers

Submit New Assignment