Mathematics, 01.03.2021 21:50 mewings
Assume that an 18-month CD purchased for $11,000 pays an APR of 3% compounded monthly. What is the APY? (Round your answer to two decimal places.) %Would the APY change if the investment were $7000 for 30 months with the same APR and with monthly compounding?Yes, the APY changes if the investment is $7000 for 30 months with the same APR. No, the APY does not change if the investment is $7000 for 30 months with the same APR.
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Assume that an 18-month CD purchased for $11,000 pays an APR of 3% compounded monthly. What is the A...
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