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Effective Annual Rate

Authored by Jonnah Cadayona

Mathematics, Business

11th - 12th Grade

Used 71+ times

Effective Annual Rate
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5 questions

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1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the effective annual rate for China Bank if they offer 2.5% per annum compounded semi-annually for a savings deposit?

2.53%

2.52%

2.50%

2.51%

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

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Mr. Roweno Gonzales deposits in BDO at 2.4% per annum compounded monthly. What is his effective Annual rate?

2.43%

2.42%

2.46%

2.45%

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

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What will be the effective annual rate of Ms. Alfaras' savings if she will deposit in Metro Bank at annual rate of 2.6% compounded quarterly

2.64%

2.61%

2.63%

2.65%

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Levi Bongosia plans to open a saving account in Maasin City. The 4 banks offers the following rates:

-China Bank offers 0.25% per annum compounded semi-annually

-BDO offers 0.25% per annum compounded monthly

-BPI offers 0.25% per annum compounded annually

-Metro Bank offers 0.25% per annum compounded quarterly

If you were Levi, which bank will you choose?

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Media Image
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5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

It refers to the number of times the interest is compounded on a certain principal in one year.

Compound Interest

Time

Rate

Compounding Frequency

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