Math Is Fun Forum
  Discussion about math, puzzles, games and fun.   Useful symbols: √ ∞ ≠ ≤ ≥ ≈ ⇒ ∈ Δ θ ∴ ∑ ∫ π -

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Topic review (newest first)

bobbym
2013-02-21 00:54:17

Hi;

Come back if you need more.

vatso
2013-02-21 00:43:17

Thank you Bobbym!!!!!!!!!

bobbym
2013-02-20 14:25:21

Hi vatso;

Experimentally, take a nice round figure of money like 100 dollars. Form the recurrence



with a(0) = 100 of course. Run it forward for 52 iterations, you get 106.43481. That is equal to an effective annual interest rate of 6.43 %.

Or use the formula

vatso
2013-02-20 07:31:08

If the effective weekly rate is 0.12%, the effective annual rate is? The correct answer is 6.43%. How you get this value? Thank you in advance!!!

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