1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
fredd [130]
3 years ago
8

If the APR of a savings account is 1.9% and interest is compounded semiannually, what is the approximate APY of the account

Mathematics
2 answers:
kap26 [50]3 years ago
7 0

Answer:

C. 1.9090%

Step-by-step explanation:

We have been given that the APR of a savings account is 1.9% and interest is compounded semiannually. We are asked to find the APY of the account.

To solve our given problem, we will use APY formula.

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

r = Annual interest rate in decimal form,

n = Number of times interest is compounded per year.

Let us convert our given rate in decimal form.

1.9\%=\frac{1.9}{100}=0.019

Upon substituting r=0.019 and n=2 in APY formula we will get,

APY=(1+\frac{0.019}{2})^2-1

APY=(1+0.0095)^2-1

APY=(1.0095)^2-1

APY=1.01909025-1

APY=0.01909025

Since APY is in decimal form, so we will multiply APY by 100 to get as percentage.

APY=0.01909025\times 100

APY=1.909025\%\approx 1.9090\%

Therefore, the the approximate APY of the account 1.9090% and option C is the correct choice.

Arte-miy333 [17]3 years ago
5 0
C. 1.9090%.......just did it on apex
You might be interested in
Rational or irrational
emmasim [6.3K]
No not rational because you cant divide it

4 0
3 years ago
Which equation best represents the line of best fit for the scatterplot?
Elena L [17]

Answer:

The answer for this problem is

C) y = -x + 6

Step-by-step explanation:

I know this because I just did the test

5 0
3 years ago
Simplify to the extent possible:<br><br> (logx16)(log2 x)
olga55 [171]

Answer:

Step-by-step explanation:

Use the change-of-base rule.

4 0
2 years ago
Help me answer this nonsensical question!!!!!
topjm [15]

Answer:

D

Step-by-step explanation:

(if he gathers 4 coins each month you will need the variable by it. he was given 20 coins so it is added on to how many coins he has. plus it would be greater than because the question asked when he will have MORE than 50 coins.)

5 0
3 years ago
Read 2 more answers
Square numbers less than 40​
Citrus2011 [14]

Answer:

1 =1 X 1

2 4 =2 X 2

3 9 =3 X 3

4 16 =4 X 4

5 25 =5 X 5

6 36 =6 X 6

7 49 =7 X 7

8 64 =8 X 8

9 81 =9 X 9

10 100 =10 X 10

11 121 =11 X 11

12 144 =12 X 12

13 169 =13 X 13

14 196 =14 X 14

15 225 =15 X 15

16 256 =16 X 16

17 289 =17 X 17

18 324 =18 X 18

19 361 =19 X 19

20 400 =20 X 20

21 441 =21 X 21

22 484 =22 X 22

23 529 =23 X 23

24 576 =24 X 24

25 625 =25 X 25

26 676 =26 X 26

27 729 =27 X 27

28 784 =28 X 28

29 841 =29 X 29

30 900 =30 X 30

31 961 =31 X 31

32 1024 =32 X 32

33 1089 =33 X 33

34 1156 =34 X 34

35 1225 =35 X 35

36 1296 =36 X 36

37 1369 =37 X 37

38 1444 =38 X 38

39 1521 =39 X 39

40 1600 =40 X 40

6 0
3 years ago
Other questions:
  • If 1l of milk cost 70p find the cost of 100ml and 400ml.
    8·2 answers
  • Evaluate. Let n = 2.Enter the answer in lowest terms. 
    8·2 answers
  • How many 1p make £7400
    12·1 answer
  • Answer this and EXPLAIN why and HOW you got your answer!<br><br> SHOW YOUR WORK.......
    15·2 answers
  • If someone spent 9/15 hour shopping and 4/5 cleaning, how much more time in hours was spent cleaning?
    6·1 answer
  • Add (2x^3+5x−16)+(4x^3−10x^2−2x)
    9·1 answer
  • Write the name of a shape that when reflected in the x-axis , will remain identical
    12·2 answers
  • Jayne uses long division to convert a rational number ab to a decimal. Which of the following statements cannot be true?
    5·1 answer
  • How to simplify 3(x+2)
    13·1 answer
  • With a.b.c=1 and a+b+c=1<br> Prove that:
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!