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%
<u><em>Answer:</em></u>
One kilometer is miles
<u><em>Explanation:</em></u>
<u>To convert a decimal to a fraction:</u>
1- Write the decimal as a fraction whose denominator is 1
2- Multiply both numerator and denominator by multiples of 10 to eliminate the decimal point
3- Simplify the fraction you have
<u>Now, for the given problem:</u>
<u>The given decimal is 0.62, following the above steps:</u>
<u>Step 1: </u>
<u>Step 2:</u>
We have two digits after the decimal point, so to eliminate the decimal point, we will multiply the numerator and the denominator by 100
<u>Step 3:</u>
We can note that, in the fraction obtained from step 2, both the numerator and the denominator are divisible by 2, so we simplify as follows:
Hope this helps :)