MATHEMATICS COLLEGE

Kelly takes out a loan with the stated rate of 12% interest. If the interest is calculated weekly, how much greater is Kelly’s effective rate (The growth rate of compounded amount) Then her stated rate (the “stated” 12%)? Does the difference in effective rate and stated rate change depending on 1 year or 10 years ? Please answer this step if you can! Greatly appreciate it.

Answers

Answer 1
Answer:

Answer:

12.73%

Step-by-step explanation:

Given the annual rate is 12% compounded weekly.

Let's assume 1 yr=52weeks.

The effective interest rate is calculated as:

i_m=(1+r/m)^m-1, r=annual\ rate\n\ni_(52)=(1+0.12/52)^(52)-1\n\ni_(52)=0.1273

Hence, the effective rate for 12% compounded weekly is 12.73%

-The effective rate will be different when the number of compounding times is less than or more than 1 year.

- the effective rate is equal to the stated rate if the compounding number of times is once per year.

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The table shows data for orders of cheese. Multiply each number of pounds of cheese in the table below by its frequency.Drag the tiles to complete the table. The first one is done as an example. Each tile may be used once, more than once, or not at all.

123456


Pounds Frequency Multiplication
1
4
1
4

4
4
1
1

3
4
3
4

8
8
1
1
4
1
1
4

4
4

Answers

Answer:

Part One:

Pounds Frequency Multiplication

1/4           4                       1  

3/4           8                       6  

1 1/4        4                        5

1 1/2       2                        3

Part Two:

The total number of pounds of cheese ordered is 15 pounds
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