1. At what nominal rate of interest compounded monthly will $400 earn $100 interest over four years?
2. Find the equated date at which two payments of $600 due four months ago and $400 due today could be settled by a payment of $1100, if interest is 7.25% compounded semi-annually.
3. What nominal rate of interest compounded quarterly is equivalent to an effective rate of 5.99%?
Find the nominal annual rate of interest
a) at which $1500 will grow to $1800 in four years compounded compounded monthly
b) at which money will double in seven years if compounded quarterly