Whats 185% as a mixed number
2 answers:
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Answer:
I. APY = (1 +r/n)^n -1
II. 4.0474%
III. 4.0487%
IV. 4.0398%
V. Account B
Step-by-step explanation:
I. The expression is ...
APY = (1 +r/n)^n -1
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II–IV. See the attached. (When calculations are tedious and repetitive, a spreadsheet is helpful.)
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V. The account compounded quarterly has the highest APY, account B.
