The rate used in 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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Q21: $100,000 for 20 years compounded at 4%
Q24: Effective rate (APY)is:
A)Never related to compound table
B)Interest
Q28: $6,000 for six years at 8½% compounded
Q29: Using daily compounding, $700 would grow to
Q30: The value of $60 deposited in a
Q34: Compounding:
A)Calculates interest periodically
B)Looks into the present when
Q34: The number of periods is equal to:
A)
Q35: The compound table can be used to
Q36: The present value of $12,000 for six
Q40: Present value starts with the future and
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