Question 1 how much interest is earned on pound50000, Ask an Expert

Economics

Question: 1. How much interest is earned on £50,000 invested for three months at a nominal annual interest rate of 5%? If money can be reinvested each quarter at the same rate, what is the AER?

2. If a credit card company charges 1.48% a month on any outstanding balance, what APR is it charging?

3. A building society pays an AER of 5.5% on an investment account, calculated on a daily basis. What daily rate of interest will it pay?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92290818

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