What is the nominal rate of interest at which money will be 10 times itself in 30 years, if compounded monthly?
A) 0.006%
B) 0.642%
C) 6.42%
D) 7.7%
E) 4.61%
Correct Answer:
Verified
Q56: Calculate the nominal rate of interest p.a.
Q57: How many compounding periods does it take
Q58: How long will it take Whitby's population
Q59: What is the quarterly interest rate that
Q60: How long will it take an investment
Q62: Musa's parents deposited $20,000 in a long-term
Q63: A financial obligation requires the payment of
Q64: A promissory note for $7200.00 dated May
Q65: The Brick store credit card quotes a
Q66: PWC recently proposed to BMO to change
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents