1) First National Bank charges 14.5 percent compounded monthly on its business l
ID: 2703698 • Letter: 1
Question
1)
First National Bank charges 14.5 percent compounded monthly on its business loans. First United Bank charges 14.8 percent compounded semiannually.
Calculate the EAR for First National Bank and First United Bank. (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16))
An investment will pay you $53,000 in 11 years. If the appropriate discount rate is 8 percent compounded daily, what is the present value? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
First National Bank charges 14.5 percent compounded monthly on its business loans. First United Bank charges 14.8 percent compounded semiannually.
Explanation / Answer
1)
First National Bank charges 14.5 percent compounded monthly on its business loans. First United Bank charges 14.8 percent compounded semiannually.
Calculate the EAR for First National Bank and First United Bank. (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16))
An investment will pay you $53,000 in 11 years. If the appropriate discount rate is 8 percent compounded daily, what is the present value? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
First National Bank charges 14.5 percent compounded monthly on its business loans. First United Bank charges 14.8 percent compounded semiannually.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.