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cricket20 [7]
11 months ago
12

Find the annual percentage yield (APY) in the following situation.A bank offers an APR of 4.51% compounded monthlyThe annual per

centage yield is?(Do not round until the final answer. Then round to two decimal places as needed.)
Mathematics
1 answer:
uranmaximum [27]11 months ago
3 0

Given the question in the question tab, we can get the annual percentage yield by following these steps:

Step 1:

\begin{gathered} \text{Let P=\$1},\text{ then we have} \\ A=1\times(1+\frac{0.0451}{12})^{12\times1} \\ A=1.046044033 \end{gathered}

So the annual percentage yield becomes

APY=\frac{1.046044033-1}{1}=0.04604403302

Since APY is given in percentage, we convert to percentage, i.e,

\begin{gathered} 0.04604403302\times100 \\ =4.604403302\text{ percent} \end{gathered}

Hence, annual percentage yield is 4.60 percent to two decimal places.

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Step-by-step explanation:

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xxMikexx [17]

Answer:

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Step-by-step explanation:

8 0
3 years ago
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6) The length of a rectangle is 2 inches more than twice its width. Write an
34kurt

Answer:

2w + 2

Step-by-step explanation:

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Vinvika [58]

Answer:

8. m=6

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Step-by-step explanation:

Question 8:

2m-6=m

-2m    -2m     (subtract 2m from both sides)

<u>-6</u>=<u>-m</u>  

-       -     (divide both sides by the negative)

m=6

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<u>8x</u>=<u>16  </u>              (divide both sides of the equation by 8)

8     8

x=2

8 0
1 year ago
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