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.
Answer:
-13
Step-by-step explanation:
6+4=10
-18+-5=-23
10+-23=-13
Answer:
an = -2 -3(n-1)
Step-by-step explanation:
an = a1+(n-1) d
a1 =-2
d = -5--2
d = -5+2
d=-3
we are decreasing by 3 each time
an = -2 + (n-1) * -3
an = -2 -3(n-1)
So the answer would be (x,y)=(11,9)
Answer:
Step-by-step explanation:
We have given:
Principal amount which is 80,000
Time which is 20 year
Rate which is 11.5%
And since, we have to find 13 years early so, time would be: 20-13=7 years.
And since, we have to find for 12 months
Hence, n=12
We have formula to calculate compound interest:
On substituting the values we get:
On simplification we get:
