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1 answer:
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Answer:
The value of given expression is 244.
Step-by-step explanation:
The given expression is .
We need to simply the above expression.
First of all, we will subtract 246 from 734. By doing so, we get 488.
Now, we can divide 488 by 2.
As a result we get 244.
So, the value of given expression is 244.
Answer:
APY = 0.04 or 4%
Step-by-step explanation:
Given the annual percentage rate of 3.5% that is compounded quarterly, and a principal of $6,500:
We can use the following formula to solve for the annual percentage yield (APY):
where <em>r</em> = interest rate = 3.5% or 0.035
<em> n</em> = number of compounding periods per year = 4
We can plug in the values into the equation:
APY = 1.03546 - 1
APY = 0.04 or 4%