// Numbas version: finer_feedback_settings
{"name": "AER", "extensions": [], "custom_part_types": [], "resources": [], "navigation": {"allowregen": true, "showfrontpage": false, "preventleave": false, "typeendtoleave": false}, "question_groups": [{"pickingStrategy": "all-ordered", "questions": [{"functions": {}, "ungrouped_variables": ["perc", "apr2", "int", "perc2", "apr"], "name": "AER", "tags": ["AER", "Annual Equivalent Rate", "REBEL", "rebel", "Rebel", "rebelmaths"], "preamble": {"css": "", "js": ""}, "advice": "<p>The quarterly&nbsp;interest rate is $\\var{perc}$% per quarter. There are 4 quarters in one year so the equivalent annual rate of interest&nbsp;can be calculated as follows:</p>\n<p>$i=(1+\\frac{\\var{perc}}{100})^{4}-1=\\var{apr2}-1=\\var{apr}$</p>\n<p>Therefore the e<span>quiva</span><span>lent annual rate</span>&nbsp;is $\\var{perc2}$%</p>\n<p></p>", "rulesets": {}, "parts": [{"prompt": "<p>Please give your answer as a percentage to two decimal places.&nbsp;</p>\n<p>[[0]]%</p>", "variableReplacements": [], "variableReplacementStrategy": "originalfirst", "gaps": [{"allowFractions": false, "variableReplacements": [], "maxValue": "perc2+0.01", "minValue": "perc2-0.01", "variableReplacementStrategy": "originalfirst", "correctAnswerFraction": false, "showCorrectAnswer": true, "scripts": {}, "marks": "5", "type": "numberentry", "showPrecisionHint": false}], "showCorrectAnswer": true, "scripts": {}, "marks": 0, "type": "gapfill"}], "extensions": [], "statement": "<p>A savings account earns compound interest at a rate&nbsp;of&nbsp;$\\var{perc}$%&nbsp;per quarter.<br/>Calculate the equivalent annual rate of interest.</p>", "variable_groups": [], "variablesTest": {"maxRuns": 100, "condition": ""}, "variables": {"perc": {"definition": "random(1.4..2.5#0.1)", "templateType": "anything", "group": "Ungrouped variables", "name": "perc", "description": ""}, "int": {"definition": "perc/100", "templateType": "anything", "group": "Ungrouped variables", "name": "int", "description": ""}, "perc2": {"definition": "precround(apr*100,2)", "templateType": "anything", "group": "Ungrouped variables", "name": "perc2", "description": ""}, "apr": {"definition": "precround(apr2-1,4)", "templateType": "anything", "group": "Ungrouped variables", "name": "apr", "description": ""}, "apr2": {"definition": "precround((1+int)^4,4)", "templateType": "anything", "group": "Ungrouped variables", "name": "apr2", "description": ""}}, "metadata": {"description": "<p>A savings account earns compound interest at 1.5% per month.<br />Calculate the equivalent annual rate of interest</p>\n<p>rebelmaths</p>", "licence": "Creative Commons Attribution 4.0 International"}, "type": "question", "showQuestionGroupNames": false, "question_groups": [{"name": "", "pickingStrategy": "all-ordered", "pickQuestions": 0, "questions": []}], "contributors": [{"name": "Julie Crowley", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/113/"}], "resources": []}]}], "contributors": [{"name": "Julie Crowley", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/113/"}]}