Sign In
Ask Question
Lillianna Holder
Business
12 March, 15:43
How to find periodic interest rate
+3
Answers (
1
)
Mira Gonzalez
12 March, 16:11
0
Explanation:A periodic interest rate is a rate charged on a loan or rate realised on an investment over a stated period of time.
Interest rates are usually stated on an annual basis but compounds more frequently than annually in most cases.
Periodic Interest rate is calculated as the annual interest rate divided by the number of compounding periods.
A very good example of a periodic interest rate is interest on mortgage. The mortgage loan is payable over a long period of time say 20 years and the interest rates is compounded monthly to enable the lender pay on a monthly basis.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Find an answer to your question 👍
“How to find periodic interest rate ...”
in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which type of unemployment accounts for workers who are" between jobs"?
Answers (1)
The Wall Street Journal reports that the rate on three-year Treasury securities is 4.75 percent and the rate on four-year Treasury securities is 5.00 percent. The one-year interest rate expected in three years is E (4r1), 5.25 percent.
Answers (1)
Send TU. LIIose integrity One of my coworkers borrowed some money from the till. He was embarrassed when I told him I saw him do it. He did repay it the next day. Does repaying the money show integrity? No Yes
Answers (1)
Milar Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 2.0 pounds $ 7.00 per pound Direct labor 1.5 hours $ 15.00 per hour Variable overhead 1.5 hours $ 3.
Answers (1)
Which of the following statements about take home pay is false?
Answers (1)
New Questions in Business
A consulting firm has a predetermined overhead rate of $120 per labor hour. The Smith job required 5 hours to compete. The overhead cost applied to this job is $
Answers (1)
Loren and Kendra enter into a contract for the distribution of Loren's produce to local restaurants for which he agrees to pay Kendra. Kendra transfers her right to payment under the contract to County Bank. This transfer is a. an alienation b.
Answers (1)
Clara, at age 47, decided to adopt a child on her own because she tired of waiting around for "mr. Right" to come along. She decided to move on with her life. Clara is an example of a (n) :
Answers (1)
Sandusky Company borrowed $28,000 from the Lakeside Bank by issuing a 10% three-year installment note. Sandusky agreed to repay the principal and interest by making annual payments in the amount of $11,259.21.
Answers (1)
Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes: a. the time the product was full price and didn't sell b. the value of their time and energy c.
Answers (1)
Home
»
Business
» How to find periodic interest rate
Sign In
Sign Up
Forgot Password?