2. If the TVM is the only consideration, what nominal rate will cause all of the banks to provide the same effective annual rate as Bank A? Round your answers to two decimal places. Nominal rate Payment B 5.91 $ A % 2,830.19 C 5.88 B % 3. Suppose you don't have the $3,000 but need it at the end of 1 year. You plan to make a series of deposits annually for A, semiannually for B, quarterly for C, monthly for D, and daily for E- with payments beginning today. How large must the payments be to each bank? Round your answers to the nearest cent. $ D с 5.84 % $ D E 5.83 $ % E

2. If the TVM is the only consideration, what nominal rate will cause all of the banks to provide the same effective annual rate as Bank A? Round your answers to two decimal places. Nominal rate Payment B 5.91 $ A % 2,830.19 C 5.88 B % 3. Suppose you don't have the $3,000 but need it at the end of 1 year. You plan to make a series of deposits annually for A, semiannually for B, quarterly for C, monthly for D, and daily for E- with payments beginning today. How large must the payments be to each bank? Round your answers to the nearest cent. $ D с 5.84 % $ D E 5.83 $ % E

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 3PA: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...

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