Ask question

Ask question

All categories

3 years ago

14

Suppose Jessica opens a savings account with $5000 that compounds interest daily. The APR at the time Jessica opens the account

is 3.5%. She makes no other withdrawals or deposits. What is her APY to the nearest hundredth of a percent?

1 answer:

IrinaK [193]3 years ago

6 0

Hi there

1+0.035=(1+r/360)^360
Solve for r
R=(((1.035)^(1÷360)−1)×360)×100
R=3.44%

You might be interested in

Geoffrey's babysitter stayed from 5:15 P.M. until 11:35 P.M. For how much time

RUDIKE [14]

Answer:

6 Hours and 20 minutes

Step-by-step explanation:

3 0

3 years ago

Read 2 more answers

Fill in the blank. <br><br><br> The absolute value of every nonzero integer is a(n) _____ integer.

Sedbober [7]

Answer: positive

The absolute value of every nonzero integer is a positive integer.

Examples are

|-2| = 2

|7| = 7

The absolute value represents distance which can never be negative. Negative distance does not make sense.

3 0

4 years ago

Read 2 more answers

Emily has 7 apples . she cuts each apple into 6 slices. how many slices does Emily have ? white an equation to show how you slov

Nezavi [6.7K]

If you multiply 7 by 6 you get 42

So 7•6=42

8 0

3 years ago

Read 2 more answers

Which of the following groups listed below are subsets of the integers?

meriva

I believe the answer would be Whole Numbers

8 0

3 years ago

In a certain clothing store, 4 shirts and 6 ties cost $70, and 2 shirts and 4 ties cost $42. What is the cost of each tie?

Oksanka [162]

Answer:

$7

Step-by-step explanation:

Your two equations are ...

4s +6t = 70
2s +4t = 42

Double the second equation and subtract the first:

2(2s +4t) -(4s +6t) = 2(42) -(70)

2t = 14 . . . . . simplify

t = 7 . . . . . . . divide by 2

The cost of each tie is $7.

3 0

4 years ago