ASK YOUR TEACHER \( \quad \) PRACTICE ANOTHER Find the annual percentage yield for an investment at the following rates. (Round your answers to two decimal places.) (a) \( 7.6 \% \) compounded monthly

A nominal interest rate of \( 7,2 \% \) per annum is quoted. The interest is compounded monthly. 8.3.1 Calculate the effective interest rate n a round off to a whole number.

A car was valued at \( \$ 31,000 \) in the year 1995 . The value depreciated to \( \$ 11,000 \) by the year 2003. A) What was the annual rate of change between 1995 and 2003 ? \( r=\square \) Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2007 ? value \( =\$ \)

An amount of R 500 is invested at \( i \% \) per annum compound interest. After 6 years it has grown to \( \mathrm{R} 1126,10 \). Calculate the value of \( i \), round off to a whole number and give your answer as a percentage.

On September 5, Zhu Company buys merchandise on account from Gao Company. The selling price of the goods is \( ¥ 15,000 \), and the cost to Gao Company was \( ¥ 8,000 \). On September 8 , Zhu returns defective goods with a selling price of \( ¥ 2,000 \) and the fair value of \( ¥ 300 \). Record the transactions on the books of Gao Company. Sept. 5 Sept. 5

7. Mohammed borrowed N2500 at \( 4 \% \) p.a. com- pound interest. He repays N600 at the end of each year. Find out during which year the debt will finish.