Can you please show your work and help me understand how to get the correct answers….

Homework Help Question & Answers

Can you please show your work and help me understand how to get the correct answers….

Can you please show your work and help me understand how to get the correct answers.

5. If the nominal rate of interest is 3.2%, then what is the quarterly periodic rate of interest? . Show 2 decimals in the percentage! Don’t enter the % sign. For Example answer: 9.99

Answer: 0.8

7. A perpetuity has a discount rate of 6.7% and a payment of $421.22. What is the present value of this perpetuity?

Answer: 6,286.87

8. You borrow $76,810 to be repaid in annual payments over 6 years. The nominal interest rate on the loan is 9.2%. Based on the above how much should the annual payment should be? (Show pennies!) e.g. 99.99

Answer: 17,224.7

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