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Homework answers / question archive / If money is invested for 7 years at a simple interest rate of 9

If money is invested for 7 years at a simple interest rate of 9

Finance

  1. If money is invested for 7 years at a simple interest rate of 9.5% per annum, the nominal interest rate per annum, compounding monthly, is (as a percentage rounded to three decimal places; no % sign): Answer:

  2. You invested $8,000 in a savings deposit 7 quarters ago and it has grown to $9035 today. What nominal rate of annual interest (compounding quarterly) did you earn? (expressed as a percentage to two decimal places; don't use the % sign) Answer:

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