Bank B compounds interest 5 times a year. Bank B has a stated annual interest rate...

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Bank B compounds interest 5 times a year. Bank B has a stated annual interest rate of 8%. What is the effective annual rate in %? Jon Huntsman has $13,003 that he can deposit in Bank A. Bank A compounds interest 9 times a year. Bank A has a stated annual interest rate of 7%. What amount would Jon have after 5 years, leaving all interest paid on deposit in the Bank? Bank B compounds interest 5 times a year. Bank B has a stated annual interest rate of 8%. What is the effective annual rate in %? Jon Huntsman has $13,003 that he can deposit in Bank A. Bank A compounds interest 9 times a year. Bank A has a stated annual interest rate of 7%. What amount would Jon have after 5 years, leaving all interest paid on deposit in the Bank?

Answer rating: 100% (QA)

1 Bank B Effective annual rate 1 rmm 1 Where r Stated annual interest rate 8 8100 008 m Nu... View the full answer