Find the nominal annual rate of interest for the following investment Principal $1177 00 Future Value $2867 12 Time Due 8 years Frequency of Conversion monthly The nominal annual rate of interest is compounded monthly (Round the final answer to four decimal places as needed Round all intermediate ...

The Answer is in the image, click to view ...

Find the nominal annual rate of interest for the following investment. Principal $1177.00 Future Value $2867.12...

Fantastic news! We've Found the answer you've been seeking!

Question:

Related Book For answer-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

See More Books

Posted Date: Mar 22, 2024 02:39 PM

See More Questions

A 1kg cart is connected to a 2kg cart. The 1kg cart feels 9N of friction and the 2kg cart feels 18 N of friction. If you pull on the 2kg cart with a Force of 36N to the right, what is the Force of...
Ford Company's cost of capital is 13%. It has invested x (million dollars) in current assets. The following function represents the shortage cost of its current assets: S = 9 e- x/3 Find the...
Air with a velocity of 40 m/s enters an adiabatic turbine through a 4-cm-diameter pipe at 2 MPa and 400C and expands to the exit maintained at 100 kPa. Determine the power produced if a) The air...
Determine whether the series converges or diverges. 00 1 - tan n=1 h 1 n
How might a hacker access and manipulate a digital device for illegal purposes? Are the Internet of Things (IoT) devices at risk for hacker access and manipulation?
On January 1, 2014, Valdez Company had Accounts Receivable $91,000 and Allowance for Doubtful Accounts $8,100. Valdez Company prepares financial statements annually. During the year, the following...
Imagine that you lend $5,000 to a friend at 7%, and say, "Pay me back when you get a job." Five years later, your friend gets a job and pays you back. Your friend assumed that you meant simple...
A machine produces washers of thickness 0.50 mm. To determine whether the machine is in proper working order, a sample of 10 washers is chosen for which the mean thickness is 0.53 mm and the standard...
How can Marriott Bonvoy use "segmentation and positioning" to create brand loyalty in America? Specifically, focus on the hotel industry to answer the question. There are four segments: Business...
What is the difference between data process model and data flow diagram?
The net profit in dollars per day for a small business owner is given by the equation, where x is the number of employees he hires. If he hires the number of employees that will maximize his profit,...
Find lim(xy-2y)/((x-2)^2+y^2) as x approaches 2 and y approaches 0
a trail is 1860 miles long. It begins in city A and ends in city B. Manfred has hiked 2/5 of the trail before. How many miles has he hiked?
Write a detailed paper on History of Biology: Biological Development that has Brought Benefit to Humanity
In Problem use geometric formulas to find the unsigned area between the graph of y = f(x) and the x axis over the indicated interval. f(x) = x + 5; [0, 4]
A contract worth $52 000 provides benefits of $20 000 at the end of each year. The benefits are deferred for 19 years and interest is 11% compounded quarterly. (a) How many payments are to be made...
A 10-year indexed annuity was purchased in which the end-of-month payments start at $1250.00 and diminish by 0.5% per payment. If interest is 4.8% compounded monthly, what amount was initially paid...
A debt of $45 000 is repaid over 15 years with semi-annual payments. Interest is 9% compounded monthly. (a) What is the size of the periodic payments? (b) What is the outstanding principal after the...
Use a web platform such as Wordpress to create a portfolio that highlights your professional and academic accomplishments. Include course projects, workplace samples, and other documents that support...
Working individually, in pairs, or in small groups, as your instructor directs, a. Look at five of the example student rsums on VisualCV. com. What features do you like? Why? What features would you...
All of the following are first paragraphs in prospecting letters written by new college graduates. Evaluate the paragraphs on these criteria: Is the paragraph likely to interest readers and motivate...

Find the nominal annual rate of interest for the following investment. Principal $1177.00 Future Value $2867.12...

Question:

Expert Answer:

Contemporary Business Mathematics with Canadian Applications

Students also viewed these mathematics questions