PLEASE HELP Ruby has a choice between three savings accounts. Savings account A has an APR of 3.9742% compounded monthly, saving
s account B has an APR of 3.9886% compounded quarterly, and savings account C has an APR of 3.9998% compounded semiannually. Ruby wants to choose the savings account with the highest APY.
Part I: If r is a savings account's APR and n is the number of compounding periods per year, what expression gives the savings account's APY?
Part II: What is the APY of savings account A to four decimal places?
Part III: What is the APY of savings account B to four decimal places?
Part IV: What is the APY of savings account C to four decimal places?
Part V: Which savings account offers the highest APY?
Part I: If r is a savings account's APR and n is the number of compounding periods per year, what expression gives the savings account's APY?
Part II: What is the APY of savings account A to four decimal places?
Part III: What is the APY of savings account B to four decimal places?
Part IV: What is the APY of savings account C to four decimal places?
Part V: Which savings account offers the highest APY?
1 answer:
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
__
II–IV. See the attached. (When calculations are tedious and repetitive, a spreadsheet is helpful.)
__
V. The account compounded quarterly has the highest APY, account B.
You might be interested in
Answer:
Step-by-step explanation:
The skope-intercept form:
m - slope
b - y-intercept
The formula of a slope:
We have the points (2, -1) and (5, -3). Substitute:
We have the equation:
Put the coordinates of the point (2 , -1) to the equation:
<em>add 4/3 to both sides</em>
Finally we have:
Answer:
B. (0, 5]∪(15,30] only (15,30] contains viable rates for the hoses.
Step-by-step explanation:
The question is incomplete. Find the complete question in the comment section.
For us to meet the pool maintenance company's schedule, the pool needs to fill at a combined
rate of at least 10 gallons per minute. If the inequality represents the combined rates of the hoses is 1/x+1/x-15≥10 we are to find all solutions to the inequality and identifies which interval(s) contain viable filling rates for the hoses. On simplifying the equation;
The interval contains all viable rate are values of x that are less than 30. The range of interval is (0, 5]∪(15,30]. Since the pool needs to fill at a combined rate of <em>at least 10 gallons per minute</em> for the pool to meet the company's schedule, <em>this means that the range of value of gallon must be more than 10, hence (15, 30] is the interval that contains the viable rates for the hoses.</em>
