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- 1. Multiple Choice
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
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
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
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?
- 5. Multiple Choice
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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