A club with 19 members is to choose three officers president vice president and security secretary treasurer. If each office is
1 answer:
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Answer:
2.02%.
Step-by-step explanation:
We are asked to find the Annual Percentage Yield (APY) for the nominal rate of 2% compounded quarterly.
We will use APY formula to solve our given problem.
, where,
r = Stated annual interest rate in decimal form,
n = Number of times interest is compounded per year.
Compounded quarterly means that the value of n is 4.
Let us convert 0.020150500625 to percent as:
Therefore, the required APY would be 2.02%.
For this case we have the following functions:
We must find By definition of composition of functions we have:
So:
Thus, the correct option is option C.
Answer:
Option C