Study Guides (248,655)
Joe Kim (2)
Quiz

# 2B03 Quiz 2 Solutions.pdf

2 Pages
201 Views

Department
Engineering (General)
Course Code
ENGINEER 2B03
Professor
Joe Kim

This preview shows 80% of the first page. Sign up to view the full 2 pages of the document.
Description
Quiz #2 1. If you deposit \$2000 into an account with an interest rate of 10% compounded monthly, what would the effective quarterly interest rate be for this account? • ie=(1+r/m)^k-1 = (1+0.1/12)^3-1 = 0.025208912 2. If you made \$200 weekly deposits into a savings account how much money would you have at the end of 24 months? The savings account has 12% interest compounded monthly. • F=A(F/A,i,N)= 800[ ((1+0.12/12)^24-1) /(0.12/12)] =21578.77 Quiz #2 1. If you deposi
More Less

Only 80% of the first page are available for preview. Some parts have been intentionally blurred.

Unlock Document

Unlock to view full version

Unlock Document
Me

OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Join to view

OR

By registering, I agree to the Terms and Privacy Policies
Just a few more details

So we can recommend you notes for your school.