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ADMS 3530 Lecture Notes - Effective Interest Rate

Canada

Finance

Administrative Studies

Irvin Pestano

York University

Quantitative Methods I

Introduction to Financial Accounting

Introduction to Management Accounting

Management Information Systems

Elements of Law: Part One

Quantitative Methods II

Managerial Cost Accounting and Analysis

Personal Investment Management

Personal Financial Planning

Business Ethics and Corporate Social Responsibility

Advanced Portfolio Management

Derivative Securities

Management Policy Part I

<p>Use graphical approximation techniques or an equation solver to approximate the desired interest rate. A person makes annual payments of $1000 into an ordinary annuity. At the end of 55 âyears, the amount in the annuity is $5751.89. What annual nominal compounding rate has this annuityâ earned?</p>

<p><picture><source srcset="https://prealliance-textbook-qa.oneclass.com/qa_images/homework_help/question/qa_images/73/7334102.webp" type="image/webp"></source><img src="https://prealliance-textbook-qa.oneclass.com/qa_images/homework_help/question/qa_images/73/7334102.png" alt=""></picture></p> <div id="h24" class="hidden">Find the amount of the ordinary annuity. (Interest is compounded annually.) R = $110, i 0.05, n = 13 The amount of the ordinary annuity is $ (Round to the nearest cent as needed.) </div>

<div style="font-family:'Helvetica Neue', Helvetica, Arial;color:#333333;"> <div> <br> <picture><source srcset="https://prealliance-textbook-qa.oneclass.com/qa_images/homework_help/question/qa_images/73/7336552.jpeg" type="image/webp"></source><img src="https://prealliance-textbook-qa.oneclass.com/qa_images/homework_help/question/qa_images/73/7336552.jpeg" alt=""></picture> </div> </div> <div id="bsk" class="hidden">Score: 0 of 1 pt 12.2.1 Find the amount of the ordinary annuity. (Interest is compounded annually.) R = $130, i = 0.06, n = 14 The amount of the ordinary annuity is (Round to the nearest cent as needed.) </div>

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