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Homework answers / question archive / 1)A bank pays interest monthly with an EAR of 6

1)A bank pays interest monthly with an EAR of 6

Finance

1)A bank pays interest monthly with an EAR of 6.17%. What is the periodic interest rate applicable per month?

  a.

0.50%.
  b.

0.42%.
  c.

0.48%.
  d.

0.55%.
  e.

0.52%.

2)

A bank pays interest monthly with an EAR of 6.17%. What is the periodic interest rate applicable per month?

  a.

0.50%.
  b.

0.42%.
  c.

0.48%.
  d.

0.55%.
  e.

0.52%.

 

3)

Stanley Hart invested in a state government bond that promised an annual yield of 6.7 percent. The bond pays coupons twice a year. What is the effective annual yield on this investment?

  a.

6.81%
  b.

3.35%
  c.

9.4%
  d.

8.5%.
  e.

6.70%

 

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