// Numbas version: exam_results_page_options {"name": "Simon's copy of AER", "extensions": [], "custom_part_types": [], "resources": [], "navigation": {"allowregen": true, "showfrontpage": false, "preventleave": false, "typeendtoleave": false}, "question_groups": [{"pickingStrategy": "all-ordered", "questions": [{"variables": {"apr2": {"templateType": "anything", "name": "apr2", "definition": "precround((1+int)^4,4)", "description": "", "group": "Ungrouped variables"}, "apr": {"templateType": "anything", "name": "apr", "definition": "precround(apr2-1,4)", "description": "", "group": "Ungrouped variables"}, "int": {"templateType": "anything", "name": "int", "definition": "perc/100", "description": "", "group": "Ungrouped variables"}, "perc": {"templateType": "anything", "name": "perc", "definition": "random(1.4..2.5#0.1)", "description": "", "group": "Ungrouped variables"}, "perc2": {"templateType": "anything", "name": "perc2", "definition": "precround(apr*100,2)", "description": "", "group": "Ungrouped variables"}}, "tags": [], "parts": [{"sortAnswers": false, "variableReplacements": [], "gaps": [{"variableReplacements": [], "minValue": "perc2", "precisionPartialCredit": 0, "allowFractions": false, "mustBeReducedPC": 0, "precisionMessage": "You have not given your answer to the correct precision.", "customMarkingAlgorithm": "", "showPrecisionHint": false, "showFeedbackIcon": true, "correctAnswerStyle": "plain", "type": "numberentry", "maxValue": "perc2", "marks": "2", "scripts": {}, "strictPrecision": false, "mustBeReduced": false, "extendBaseMarkingAlgorithm": true, "customName": "", "showCorrectAnswer": true, "correctAnswerFraction": false, "notationStyles": ["plain", "en", "si-en"], "unitTests": [], "variableReplacementStrategy": "originalfirst", "precision": "2", "precisionType": "dp", "useCustomName": false}], "extendBaseMarkingAlgorithm": true, "customName": "", "prompt": "
Please give your answer as a percentage to two decimal places.
\n[[0]]%
", "showCorrectAnswer": true, "customMarkingAlgorithm": "", "showFeedbackIcon": true, "variableReplacementStrategy": "originalfirst", "unitTests": [], "type": "gapfill", "marks": 0, "scripts": {}, "useCustomName": false}], "ungrouped_variables": ["perc", "apr2", "int", "perc2", "apr"], "extensions": [], "advice": "The quarterly interest rate is $\\var{perc}$% per quarter. There are 4 quarters in one year so the equivalent annual rate of interest can be calculated as follows:
\n$r=(1+\\frac{\\var{perc}}{100})^{4}-1=\\var{apr2}-1=\\var{apr}$
\nTherefore the equivalent annual rate is $\\var{perc2}$%
\n", "statement": "A savings account earns compound interest at a rate of $\\var{perc}$% per quarter.
Calculate the annual equivalent rate of interest (AER).
A savings account earns compound interest at 1.5% per month.
Calculate the equivalent annual rate of interest
rebelmaths
"}, "rulesets": {}, "type": "question", "contributors": [{"name": "Julie Crowley", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/113/"}, {"name": "Simon Thomas", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/3148/"}]}]}], "contributors": [{"name": "Julie Crowley", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/113/"}, {"name": "Simon Thomas", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/3148/"}]}