Answer:
The formula to calculate APY is (1 + (i/n))^n - 1
where i is the interest rate and n is the number of compounding periods.
Monthly APY = (1 +(0.055/12)^12 -1
APY = 0.0564 = 5.64%
Quarterly APY = (1 +(0.055/4)^4 -1
APY = 0.0561 = 5.61%
Difference = 5.64 - 5.61 = 0.03% more when compounded monthly.
The APY is more when compounded monthly, because there are more compound periods.
1.59/15= $0.106
3.95/29= $0.105
Therefore, the second is better buy.
Answer:
Answer: 11,272
Step-by-step explanation: there are 52 weeks in a year multiplied by the median wage, which is 1001. Then minus 40,780.
Step-by-step explanation:
HOPE THIS HELPS!!!!!! :D
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Answer:
p = 10
q = 4
Step-by-step explanation:
10/p = 1
<em>(multiply both sides by p)</em>
10 = 1p
10 = p
250 = 1000/q
<em>(multiply both sides by q)</em>
250q = 1000
<em>(divide both sides by 250)</em>
q = 4
Hope this helps!
