We have a deposit of $2000 into an account that pays 6% compounded monthly, after a year we will have:

The effective annual yield (EAY) will be:

The EAY is 101.22%
Answer:
b. 75
Step-by-step explanation:
a(n) = a1 + d(n-1)
a(n) = 8.5 + 3.5(n - 1)
a(20) = 8.5 + 3.5(20 - 1)
a(20) = 8.5 + 3.5(19)
a(20) = 8.5 + 66.5
a(20) = 75
ANSWER: B)198
Have a great day!
Answer:
1114$
Step-by-step explanation: