It would be 37’000 because 20% of 185000 is 37’000 which you get by 20 x 185000 and dividing the answer to 100.
The national average utility cost is $270.48 per month. If the average phone bill is 12.6% of the total amount and the average u
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Answer:
APY = 0.04 or 4%
Step-by-step explanation:
Given the annual percentage rate of 3.5% that is compounded quarterly, and a principal of $6,500:
We can use the following formula to solve for the annual percentage yield (APY):
where <em>r</em> = interest rate = 3.5% or 0.035
<em> n</em> = number of compounding periods per year = 4
We can plug in the values into the equation:
APY = 1.03546 - 1
APY = 0.04 or 4%