For example, a credit card company might charge 1% interest each month; therefore, the APR would equal 12% (1% x 12 months = 12%). This differs from APY, which takes into account compound interest. The APY for a 1% rate of interest compounded monthly would be 12.68% [(1 + 0.01)^12 – 1= 12.68%] a year. If you only carry a balance on your credit card for one month's period you will be charged the equivalent yearly rate of 12%. However, if you carry that balance for the year, your effective interest rate becomes 12.68% as a result of compounding each month.

6 0

4 years ago

Which expression is equivalent to (4^-3)^-6 a.) 4^3 b.) 4^-9 c.) 4^-18 d.) 4^18

mario62 [17]

Answer:

Answer:

The answer is d.) 4^18

3 0

3 years ago