1 for an apr of 8 per year if the interest is compounded, Ask an Expert

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1. For an APR of 8% per year, if the interest is compounded daily, determine the nominal rate per (a) 6 months and (b) 2 years.

The nominal interest rate per 6 months is %.

The nominal interest rate per 2 years is %.

2. A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $13,300 each, with the first payment occurring today, your child’s 12th birthday. Beginning on your child’s 18th birthday, the plan will provide $32,000 per year for four years.

What return is this investment offering?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92653460

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