chi has a big pile of nickels. he says, "even if I use 100 of these nickels, I'll still have 95% of my original pile." how many
1 answer:
You might be interested in
Answer:
The Annual percentage yield is 3.25%.
Step-by-step explanation:
Given : Money invested at the rate of 3.2% compounded continuously.
To find : What's the annual percentage yield?
Solution :
Money invested at the rate of 3.2% compounded continuously.
The compounded continuously formula is
Where, P is the principal P=1
t is the time t=1
r is the interest rate r=3.2%=0.032
Substitute the value in the formula,
The Annual percentage yield is
Therefore, The Annual percentage yield is 3.25%.