Round 7.788 to the nearest hundredth.

Mathematics

1 answer:

nevsk [136]3 years ago

6 0

Answer:

7.79

Step-by-step explanation:

A hundredth is the second number after the decimal. For example, in the number 100.234, the "3" would be the hundredth, the "2" would be the tenth, and the "4" would be the thousandth.

To round to the nearest hundredth, you have to look at the thousandth because when rounding, you look at the next number to decide whether to round up or down.

Since 8 is in the thousandth place in this question, and 8 is bigger than 5, you round up. So, you round the "8" in the hundredths place up to 9.

Therefore, you get 7.79.

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Find the annual percentage yield (APY) in the following situation. A bank offers an APR of 4.8% compounded daily. The annual per

sweet-ann [11.9K]

Answer:

4.92%

Step-by-step explanation:

First of all, recall that if you increase a number C in x%, then you will have $C+\frac{x}{100}C=C(1+\frac{x}{100})$

So increasing a number in x% is equivalent to multiply it by (1+x/100)

Now, suppose you have deposited $C where C is any amount > 0

If the bank offers an APR of 4.8% compounded daily, it means that your money increases $\frac{4.8}{365}\%=\frac{0.048}{365}$ daily.

So, after 365 days you will have

C multiplied by (1+0.048/365) 356 times, that is

(1) $C(1+\frac{0.048}{365})^{365}=C(\frac{365.048}{365})^{365}$

Now, you want to find a value x, such that C increased in x% equals the amount in (1).That would be the percentage your money increased in one year (APY)

$C(\frac{365.048}{365})^{365}=C(1+\frac{x}{100})\Rightarrow x=100[(\frac{365.048}{365})^{365}-1]$