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2 years ago

11

Candace invests $636 in an investment that pays 7% interest compounded quarterly. What is her annual effective yield? Input answ

er as a percentage to two decimal places.

2 answers:

Advocard [28]2 years ago

8 0

ANSWER : $680.52

Explanation:636 x 107%

Damm [24]2 years ago

6 0

Answer:

7.19%

Step-by-step explanation:

let i be the effective rate

$(1+\frac{.07}{4})^4=(1+i)\\.071859031$

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