Question

Find the effective rate of an account that earns 3.3% compounded: Round your answers to 4 decimal places as needed. semi-annually: quarterly: monthly: weekly: daily: continuously: Points possible: 5 This is attempt 1 of 3

Answer 1

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Sol: Givent Rate (i) = 3:30% lon) 0.033 Effective rate (0) 7. - (144) Semi-annually ; n=2 @ = fitxebiket (.03327225) - on = 0.0332722 ~ 3.3272 | © quarterly; n=4. / rz 0.03341062 N 3.34106 © monthly, n=12 1 >> 1.0335037 - 0.033 '12 rz 0.0335037 ~ 3.35037 %

© weekly 52 : n=5a n=1170103319-1 > 1.0335397 ) r = 0.033539 s 3-3539 % © Daily, and n=365 = (1+ box) => 1.0335489 – 1 1+ .033 365 ) r = 0.033548 ~ 3.3548 L Continmously » r = 0 0.033 a= 0.0335505 ~ 3.35505 %