What is the Effective Annual Rate of an 80-day $10,000 CD quoted at 4.5% interest? Instructions:...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/664919dd7ff23_781664919dd30182.jpg)
Transcribed Image Text:
What is the Effective Annual Rate of an 80-day $10,000 CD quoted at 4.5% interest? Instructions: Include numbers only. No % symbols. Input answer as % value or decimals: ex. .0312 or 3.12%. If inputting as decimal, round out four decimal places (.0312), if inputting as % round out two decimal places (3.12%) What is the Effective Annual Rate of an 80-day $10,000 CD quoted at 4.5% interest? Instructions: Include numbers only. No % symbols. Input answer as % value or decimals: ex. .0312 or 3.12%. If inputting as decimal, round out four decimal places (.0312), if inputting as % round out two decimal places (3.12%)
Expert Answer:
Posted Date:
Students also viewed these finance questions
-
What is the first question to ask when redefining quality goals? What is the purpose of what I am trying to accomplish? What is the right purpose for me to be working on? What quality goals should I...
-
Effect of transactions on current ratio and working capital Lennox Company has a current ratio of 2:1 on June 30, 2011. Indicate whether each of the following transactions would increase (+),...
-
Derive the following expression: where \[ C_{P}-C_{V}=T V \frac{\beta^{2}}{\alpha} \] \(\alpha=\) Isothermal compressibility \(\beta=\) Volume expansivity.
-
A cancellation clause would reduce the risk to the lessee since the firm would be allowed to terminate the lease at any point. Since the lease is less risky than a standard financial lease, and less...
-
Information related to Miracle Company for 2014 is summarized below. Total credit sales $1,000,000 Accounts receivable at December 31 369,000 Bad debts written off 22,150 Instructions (a) What amount...
-
A company manufactures mountain bikes. The research department produced the marginal cost function C'(x) = 500 - 7, 0s x 900, where C'(x) is in dollars and x is the number of bikes produced per...
-
What is the diference between traditional leadership, e-leadership, and digital leadership?
-
The Great Depression dealt a devastating blow to Billy Durant. During the depths of the Depression in 1936, Durant, a high school dropout who was born a few months after the outbreak of the Civil War...
-
Which of the capabilities discussed in this chapter is the most important to succeeding at digital transformation and digital business?
-
The National Health and Nutrition Examination Survey (NHANES) weighed a sample of 546 boys aged 611 and found that 87 of them were overweight. They weighed a sample of 508 girls aged 611 and found...
-
Which cybersecurity management related accounting competency is likely to have the greatest positive impact on an accountants career?
-
You are a representative from this class, now, basis the correlation value you derived in the previous question, can you derive any valuable insight between the relationship between the variables...
-
Why is inventory management important for merchandising and manufacturing firms and what are the main tradeoffs for firms in managing their inventory?
-
describe the diffusion of innovations throughout an industry and market?
-
Can an organization have innovation without creativity?
-
interpret the difference between disruptive innovation and sustaining innovation.
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App