$MathMaster logo$

MathMaster

Home
general
a savings account offers a nominal interest rate of 6 per year capitalized quarterly basis calculate the effective interes

Question

A savings account offers a nominal interest rate of 6% per year, capitalized quarterly basis. Calculate the effective interest rate

75

likes

377 views

Answer to a math question A savings account offers a nominal interest rate of 6% per year, capitalized quarterly basis. Calculate the effective interest rate

$Expert avatar$

4.6

97 Answers

i_e = \left(1 + \frac{0.06}{4}\right)^4 - 1 \approx 0.06136 \text{ or } 6.136\%

Frequently asked questions (FAQs)

Math question: What is the Rule for congruence of triangles that states if two angles of one triangle are congruent to two angles of another triangle, then the triangles are congruent? (

+

What is the maximum value of the sine function from 0 to 2π radians?

+

Math question: Find the 4th derivative of y = ln(x^2 + 1).

+

New questions in Mathematics

Hey👋🏻 Tap "Create New Task" to send your math problem. One of our experts will start working on it right away!

Consider the relation R defined on the set of positive integers as (x,y) ∈ R if x divides y. Choose all the true statements. R is reflexive. R is symmetric. R is antisymmetric. R is transitive. R is a partial order. R is a total order. R is an equivalence relation.

What payment 7 months from now would be equivalent in value to a $3,300 payment due 23 months from now? The value of money is 2.7% simple interest. Round your answer to 2 decimal places. Show all work and how you arrive at the answer..

An electrical company manufactures batteries that have a duration that is distributed approximately normally, with a mean of 700 hours and a standard deviation of 40 hours. Find the probability that a randomly selected battery has an average life of less than 810 hours.

If f(x,y)=6xy^2+3y^3 find (∫3,-2) f(x,y)dx.

-3(-4x+5)=-6(7x-8)+9-10x

How many anagrams of the word SROMEC there that do not contain STROM, MOST, MOC or CEST as a subword? By subword is meant anything that is created by omitting some letters - for example, the word EMROSCT contains both MOC and MOST as subwords.

What is 28 marks out of 56 as a percentage

3 A tree is planted when it is 1.2 m tall. Every year its growth is 3/8 of its previous year's height. Find how tall the tree will grow.

Convert 9/13 to a percent

A machine produces 255 bolts in 24 minutes. At the same rate, how many bolts would be produced in 40 minutes?

Solve equations by equalization method X-8=-2y 2x+y=7

List five numbers that belong to the 5 (mod 6) numbers. Alternate phrasing, list five numbers that satisfy equation x = 5 (mod 6)

Total Users with an active Wise account = Total Active Users + Total Users who haven’t transacted Total Active Users = Total MCA Users + Total Send Users = Total New Users + Retained Users Total New Users = New Send Users + New MCA Users Total MCA Users = New MCA Users + Retained Users who transacted this month via MCA Total Send Users = New Send Users + Retained Users who transacted this month via Send Send CR = Total Send Users / Total Users with an active Wise account MCA CR = Total MCA Users / Total Users with an active Wise account New Send CR = New Send Users / New Profiles Created in Month New MCA CR = New MCA Users / New Profiles Created in Month We have recently witnessed a drop in MCA conversion, but send user conversion is stable, can you help explain why?

A salesperson earns a base salary of $600 per month plus a commission of 10% of the sales she makes. You discover that on average, it takes you an hour and a half to make $100 worth of sales. How many hours will you have to work on average each month for your income to be $2000?

Gender and communication : Answer the question ( 1 paragraph is ok) . Please can you write about women? Compared to your other identities, how much of a role does gender play in your life? And has your own sex/gender offered you privileges or disadvantages? How so?

The average weekly earnings in the leisure and hospitality industry group for a re‐ cent year was $273. A random sample of 40 workers showed weekly average ear‐ nings of $285 with the population standard deviation equal to 58. At the 0.05 level of significance can it be concluded that the mean differs from $273? Find a 95% con‐ fidence interval for the weekly earnings and show that it supports the results of the hypothesis test.

I have a complex function I would like to integrate over. I can use two approaches and they should give the same solution. If I want to find the contour integral ∫𝛾𝑧¯𝑑𝑧 for where 𝛾 is the circle |𝑧−𝑖|=3 oriented counterclockwise I get the following: ∫2𝜋0𝑖+3𝑒𝑖𝑡⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯𝑑(𝑖+3𝑒𝑖𝑡)=∫2𝜋03𝑖(−𝑖+3𝑒−𝑖𝑡)𝑒𝑖𝑡𝑑𝑡=18𝜋𝑖 If I directly apply the Residue Theorem, I would get ∫𝛾𝑧¯𝑑𝑧=2𝜋𝑖Res(𝑓,𝑧=0)=2𝜋𝑖