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Gr 11 Math Ch 9: Nominal and Effective Interest Rates

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Gr 11 Math Ch 9: Nominal and Effective Interest Rates

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Questions and Answers

What is the formula for simple interest?

A = P(1 + i)

A = P(1 - in)

A = P(1 + in) (correct)

A = P(1 + in)^2

What is the formula for compound depreciation?

A = P(1 - in)

A = P(1 + i)^n

A = P(1 + in)

A = P(1 - i)^n (correct)

What is the formula for effective interest rate?

1 + i_effective = (1 + i_nominal/m)^m (correct)

1 + i_effective = (1 + i_nominal/m)^(m-1)

1 + i_effective = m(1 + i_nominal/m)

1 + i_effective = (1 - i_nominal/m)^m

What is the formula for nominal interest rate?

i_nominal = m((1 + i_effective)^(1/m) - 1) Signup and view all the answers

Which of the following is not a type of interest or depreciation?

Compound Appreciation Signup and view all the answers

What is the value of A after 3 years if the principal amount is $100, the interest rate is 10% per year, and the interest is compounded annually?

$133.10 Signup and view all the answers

If a machine depreciates at a rate of 15% per year, what is its value after 2 years if the initial value is $500?

$306.25 Signup and view all the answers

If the effective interest rate is 12%, and the nominal interest rate is 11% compounded quarterly, what is the value of m?

4 Signup and view all the answers

If the nominal interest rate is 12% compounded monthly, what is the effective interest rate?

12.68% Signup and view all the answers

A company purchases a machine for $10,000, which depreciates at a rate of 10% per year. What is the total value of the machine after 5 years if the depreciation is compounded annually?

$6,477.55 Signup and view all the answers