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Doss [256]
4 years ago
7

What is the APY of a savings account with an APR of 3.9742% compounded monthly? Answer to the four decimal place

Mathematics
2 answers:
Maurinko [17]4 years ago
6 0

Answer:

The APY of the saving account is 4.0474%

Step-by-step explanation:

We know the formula for APY which is given by

APY=(1+\frac{r}{n} )^n-1

here, r= interset rate =  3.9742% = 0.039742

n = compounding cycles = 12

On plugging these values in the above formula, we get

APY=(1+\frac{0.039742}{12} )^{12}-1

On simplifying this we get

APY =0.04047395=4.0474%

LUCKY_DIMON [66]4 years ago
3 0

Answer:

APY = 4.0474%

Step-by-step explanation:

Given is the Annual Percentage Rate (APR) = 3.9742% compounded monthly.

Suppose Principal amount, P = $1.

time, t = 1 year.

interest rate, r = 3.9742% = 0.039742

period of compounding, n = 12 (for monthly).

Future value = P * (1 + r/n)^(nt)

FV = 1 * (1 + 0.039742/12)^(1*12) = 1.040473955

Annual Percentage Growth = (FV/P)*100 = (1.040473955 / 1) * 100 = 4.0473955%

Hence, Annual Percentage Yield (APY) = 4.0474%

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cricket20 [7]

Your answer b. $147


Work: 420 x .35


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3 years ago
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5 0
3 years ago
Determine the vertex of the function f(x) = 3(x − 2)2 + 1.
anastassius [24]

The vertex point of the function f(x) = 3(x - 2)² + 1 is (2 , 1) ⇒ answer A

Step-by-step explanation:

Any quadratic function represented graphically by a parabola

1. If the coefficient of x² is positive, then the parabola open upward

  and its vertex is a minimum point

2. If the coefficient of x² is negative, then the parabola open

   downward and its vertex is a maximum point

3. The standard form of the quadratic function is: f(x) = ax² + bx + c

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4. The vertex form of the quadratic function is: f(x) = a(x - h)² + k,

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∵ The function f(x) = 3(x - 2)² + 1

∵ The f(x) = a(x - h)² + k in the vertex form

∴ a = 3 , h = 2 , k = 1

∵ h , k are the coordinates of the vertex point

∴ The coordinates of the vertex point are (2 , 1)

The vertex point of the function f(x) = 3(x - 2)² + 1 is (2 , 1)

Learn more:

You can learn more about quadratic function in brainly.com/question/1357167

#LearnwithBrainly

6 0
3 years ago
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Vladimir79 [104]

Answer:

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Make the payment as soon as you can  

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Many creditors are willing to waive a late fee as long as you’re not habitually late on payments. Contact your creditor, briefly explain how the missed payment was an accident, and ask that your late fee is waived. If your creditor won’t budge on the fee, don’t press the issue. Simply take it as a lesson learned, pay the fee, and be sure to send your payment on time next month and every month thereafter.


6 0
3 years ago
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