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Earn +20 ptsQ: What initial value sums 808 at a 2 percent annual rate in 6?
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What is the future value for 10000 invested for 5 years with an annual interest rate of 8 percent?
$14,693.28
What is the future value of 10000 for an interest rate of 16 percent and 1 annual period of compounding?
With only one year the value is 11600
How do you calculate the compounded annual growth rate?
The answer depends on what information is provided.If you have initial value (Y0), final value (Yn) and number of years (n) then the annual percentage rate is 100*[(yn/y0)^(1/n) - 1] where raising to the power 1/n is finding the nth root.
If Dexter pays a monthly interest rate of 1.9 percent what is his annual percent rate?
22.8 or 22.80
What is the effective annual rate for a credit card with a 9.9 percent annual percentage rate that is compounded daily?
The effective annual rate for a credit card that carries a 9.9% annual percentage rate (compounded daily) is 10.4%.
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