The rate used in the table for calculating compound interest is found by:
A) Annual rate × number of periods
B) Annual rate × number of times compounded per year
C) Annual rate divided by number of times compounded per year
D) Annual rate divided semiannually
E) None of these
Correct Answer:
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Q23: The interest on $6,000 at 6% compounded
Q24: Effective rate (APY)is:
A)Never related to compound table
B)Interest
Q25: Present value does not:
A)Know future amount
B)Know the
Q26: Compounding interest daily is seldom used in
Q27: A table factor of 0.7312 from the
Q29: $14,182 is the present value of $21,000
Q30: Using the table in the handbook, the
Q31: $20,000 for 14 years compounded at 8%
Q32: The effective rate (APY)is:
A)The nominal rate
B)The stated
Q33: A table factor of 0.7513 from a
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