Calvin deposited $12,600 into a savings account, and he didn't make any deposits or withdrawals for a year. If, after interest w

Question

3 years ago

13

Calvin deposited $12,600 into a savings account, and he didn't make any deposits or withdrawals for a year. If, after interest w

as paid for the year, Calvin's new balance was $13,246.38, what was the APY of the savings account?
A. 9.51%
B. 0.95%
C. 0.51%
D. 5.13%

Mathematics

1 answer:

myrzilka [38] · Answer 1 · 2022-05-27T03:35:16+03:00

myrzilka [38]3 years ago

6 0

Answer:

5.13% APEX

Step-by-step explanation:

You take 12,600 and multiply it by 1.0513, to get 13,246.38. I don't know where the 1 in front of the percent came from, but for APEX, that is the correct answer.