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6 leund D = 1 d Rates: I# waiqolddiltinc'...

Question

6 leund D = 1 d Rates: I# waiqolddiltinc'

6 leund D = 1 d Rates: I# waiqold diltinc'



Answers

find the effective rate of interest. For 6% compounded monthly

All right, So let's say an interest rate of 6% compound it continuously, and I want to find the effective interest rate. So the sun is actually pretty easy. So normally, if us using the competent continuously, I would use this formula of pert. So I'm gonna dio pretty much the same thing to find the effective interest rate. But I only need to take this little part of it, so I'm just going Teoh he Teoh point there. Six could always change your interest rates to decimals. So I guess my percent just two decibels and then I'm just gonna put that on my calculator. And here I'm going to get 1.6 18 So none If I want to change that back Teoh percentage, I would subtract one from it. So I get 0.0 618 and then move my desk. Well, place to to the right or 6.18%.

So here we are asked to find the effective interest rate for 6% Compound ID Quarterly. The formula for effective interest rate is R E. That's the effective interest rate equals one plus over and to the end, right? This one where R is the interest rate or 6% and and as a mountainous is being compounded or four times because this is compounded quarterly. So let's put everything and so we have our e equals one was open toe six over, boy to the worse. When it's one club that enjoy, calculated and we get Are you the effective interest rate equals zil 0.61 36 No. Normally, interest rates are in percentage form, so we simply move the decimal place over twice, and we get the effective interest rate is 6.136%

So here we are asked to find the effective interest rate for 6% compound ID continuously. Let's be call the effective interest rate formula or our. It was our highest notice that we're using the one that has a constant E because this is being calm, pounded continuously and our will simply bees explicit. So let's plug in the interest with so we have he to the 0.6 by this one. Put that end to your calculator and you get the effective interest rate equals ill point. Ah, 61 it or no. Normally, interest rates are given to you in percentage one, so it's mold supplied by 100. Or move the decimal place over twice and get 6.1 84% as the effective interest rate.

Children This question? Yeah, 36%. Yeah, We're not a silent in the question. We have to a gym there. This is simple interest and formula. Simple interest rates Hi, Jekyll to PRT This is the formula of simple interest. What here? Interest ih girl to hear 6% minutes. Rinse village 100 percent. This is not even mean. This is under Are you talking to us? Each? 6% 6 And time is not given one year. So this is six or the amount total amount which interest you want to pay Been spent less interest. What is it? Here 100 as it is not given. We imagine that each 100 plus six persons This is six. So total 106 When the principal is 100 we have the right up in 26 you have to pay 106 total with interest. Yeah Mm


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