(1): What would be the amount of interest earned if you deposited a one time sum

Question

(1): What would be the amount of interest earned if you deposited a one time sum of $755 for 8 years at 6.43% compound interest per year? (round to the nearest cent) Answer (2): A bank offers a nominal interest rate of 1.26% continuously compounded. What is the effective interest rate as a percent? calculate ans to 2 decimal places Answer (3): The Price/unit= $194.05; Demand =2,630; Total Cost = 90,794 Profit=? (round to nearest cent) (4): Changing the compounding period from monthly to continuous for the same nominal annual interest rate increases the effective rate(True or False)

Explanation / Answer

1. int= $487.97

2. incomplete question/ not clear what to find.

3. 419557.7

4..True

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