Which statement best describe the difference between an APR and an APY?
1 answer:
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Ok, a fun hack
if f⁻¹(a)=b then f(b)=a
so if f⁻¹(7)=b then f(b)=7
to find b, find x such that f(x)=7
7=0.5(3)^x
times both sides by 2 (or divide both sides by 0.5)
14=3^x
take log₃ of both sides
if f⁻¹(a)=b then f(b)=a
so if f⁻¹(7)=b then f(b)=7
to find b, find x such that f(x)=7
7=0.5(3)^x
times both sides by 2 (or divide both sides by 0.5)
14=3^x
take log₃ of both sides