Answer:
7.12
Step-by-step explanation:
The formula for the effective annual yield is given as:
i = ( 1 + r/m)^m - 1
Where
i = Effective Annual yield
r = interest rate = 7% = 0.07
m= compounding frequency = semi annually = 2
i = ( 1 + 0.07/2)² - 1
i = (1 + 0.035)² - 1
= 1.035² - 1
= 1.071225 - 1
= 0.071225
Converting to percentage
0.071225 × 100
= 7.1225%
Approximately to 2 decimal places = 7.12
Therefore, the annual effective yield = 7.12
Answer:
A)18.90 = 2.25e
Samuel earns $8.40 per hour.
Answer:
1/5688x-18
I am not sure about my answer because I think the question is missing some information but my answer is 1/5688x-18. Thanks!
