What is the chemical formula for copper(ll) sulfate?

Dave is considering two loans. Loan U has a nominal interest rate of 9. 97%, and Loan V has a nominal interest rate of 10. 16%.

Vsevolod [243]

Loan U will have a lower effective interest rate, and 0.0713 lower percentage points lower than Loan V and it can be determined by using the rate of interest formula.

Given that,

Dave is considering two loans.

Loan U has a nominal interest rate of 9.97%, and Loan V has a nominal interest rate of 10.16%.

If Loan U is compounded daily and Loan V is compounded quarterly.

We have to determine,

Which loan will have the lower effective interest rate, and how much lower will it be?

According to the question,

<h2>Effective Interest Rate;</h2>

The effective interest rate is determined by the formula;

$= \left(1+\dfrac{r}{t} \right )^t$

Loan U has a nominal interest rate of 9.97%,

Loan U is compounded daily,

Then,

The effective annual multiplier for loan U is,

$= \left(1+\dfrac{0.997}{365}\right)^{365}\\\\= (1+0.0027)^{365}\\\\= (1.0027)^{365}\\\\= 1.104824$

And Loan V has a nominal interest rate of 10.16%,

and Loan V is compounded quarterly.

Then,

$= \left(1+\dfrac{0.1016}{4}\right)^{4}\\\\= (1+0.0254)^{365}\\\\= (1.0254)^{365}\\\\= 1.105537$

Therefore,

Loan V has a higher effective rate by,

$=1.105537 -1.104824 \\\\= 0.000713 \\\\= 0.0713%$

Hence, Loan U will have a lower effective interest rate, and 0.0713 lower percentage points lower than Loan V.

For more details about Interest rate refer to the link given below.

brainly.com/question/1398822

5 0

3 years ago

SHIFT 2: 18 25 56 42 29 38 54 47 35 30. SHIFT 2: 23 19 50 49 67 34 30 59 40 33. SHIFT 3: 19 22 24 40 45 29 33 29 39 59. SHIFT 4:

guapka [62]

To answer this question you will need to calculate the mean for each of the Shifts and then compare those means to the mean of all the data given. I have attached a picture of the means for each shift and the population mean (all the data).

Shift 1 is the closest to the population mean. It is 37.4, and the population mean is 35.9.