Bianca's bank offers a savings account with a 2.1% APR,
compounded monthly. The the actual annual percentage yield on this account can
be calculated using i = (1+ r/m)^m, where i is the actual APR, r is the nominal
interest rate and m the compounding period in a year. APR is equal to 2.12%
When you are checking your answers, your formula should read out as 9(2.222) - 8 = 12, which is simply filing in the x value that you calculated (it comes out to 11.998 which is correct). You wrote it out as 9(2.22) - 8 = -6, which is why your checking process was incorrect
Answer:
300 dollars
Step-by-step explanation:
60% of 500
(60/100) * 500 = 300
