Effective rate (APY) is:
A) Never related to compound table
B) Interest for one year divided by annual rate
C) Interest for one year divided by principal for two years
D) Interest for one year divided by principal
E) None of these
Correct Answer:
Verified
Q19: The rate used in compounding is found
Q20: Using the table in the handbook, the
Q21: $100,000 for 20 years compounded at 4%
Q22: Using the interest for daily compounding (in
Q23: The interest on $6,000 at 6% compounded
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
Q28: The rate used in the table for
Q29: $14,182 is the present value of $21,000
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