whats is the effective rate of interest earned on an investment that earns a fixed nominal annual rate of 2.5% interest, compounded 9 times per year?

answer to 2 decimal places.

I appreciate your help, my whole class is going crazy haha..

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- December 11th 2007, 05:11 AM #1

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- December 11th 2007, 05:25 AM #2

- December 11th 2007, 05:42 AM #3

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- December 11th 2007, 05:46 AM #4

- December 11th 2007, 06:00 AM #5

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- December 11th 2007, 06:02 AM #6

- December 11th 2007, 06:25 AM #7

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question 9

You invest £1,207 at the start of each year for the next 10 years at a fixed nominal rate of 4% interest, compounded annually. How much will you have in 10 years?

You invest £242 at the end of each month for the next 5 years at a fixed nominal rate of 2.7% interest, compounded monthly. How much will you have in 5 years?

ive got more those 2 questions.. is that ok?? thanks

- December 11th 2007, 06:31 AM #8

- December 11th 2007, 06:40 AM #9

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- December 11th 2007, 06:46 AM #10

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the test is finished, thanks for your help hehe.. ive failed it.. but i can retake it again.. do you think you could help me with the questions? they are 11 questions and ive got more 3 hours to do it.. the test lasts one hour, if you help me out, i promess i will fully revise everything wen i get home..

- December 11th 2007, 06:46 AM #11

- December 11th 2007, 06:49 AM #12

- December 11th 2007, 06:51 AM #13

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- December 11th 2007, 07:40 AM #14

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- December 11th 2007, 08:31 AM #15