Answer:
effective annual rate is 6.16 %
Step-by-step explanation:
given data
rate = 6 % = 0.06
time 5 year = 10 semi annually
to find out
effective annual rate
solution
we know formula for annual effective rate of interest is
rate of interest =
-1
put here all value
rate of interest =
-1
rate of interest =
-1
rate of interest = 0.061646
so effective annual rate is 6.16 %
For the equation
take the
from both sides:
Find x:

Answer: correct choice is D
Using PEMDAS this is the answer I got 1,042.5 :)
Answer:
if he wants to have $400000 on gis bank in 30 years at 4 %rate then he needs to deposit $15151.5 per month