discodazz9
discodazz9 discodazz9
  • 02-08-2020
  • Mathematics
contestada

A savings account has a rate of 2.25% . Find the effective annual yield of interest is compounded quarterly

Respuesta :

mathmate
mathmate mathmate
  • 02-08-2020

Answer:

The effective yield is 2.269% to the thousandth.

Step-by-step explanation:

Effective annual yield compounded quarterly, given API

(1+API/4)^4 - 1

= (1+0.0225/4)^4 - 1

= 0.022691

Answer Link

Otras preguntas

what kind of literature is a play? poetry fiction nonfiction
ALGEBRA I!! PLEASE HELP!
7. Alice holds a black belt in Taekwondo and her fist has a mass of 0.5 kg. Her fist obtains a velocity of 5 m/s in 0.1 seconds from rest. Evaluate the average
What is the magnitude and direction of the electric force on the electron in a uniform electric field of strength 1920 N/C that points in the direction parallel
Which of these characteristics are typical of Korean artwork? a. action scenes b. vast, panoramic views and botanical themes c. aristocratic figures d. all of t
what is main theme!??! HELP
-10, 200%, -1.3725, -0.5, 5/16 ordered least to greatest
A 31 mC charge is positioned on the x axis at x + 8 cm. Where should a -70 mC charge be placed (on the positive X-axis) to produce a net electric field of zero
A package of cheese weighs 10 ounces. 200 grams is approximately 7 ounces. What is the approximate weight of the package of cheese in grams ? 0.35 grams 38.
what could be said about montesquieu's ideas on separation of powers?