Assume that an 18-month CD purchased for $7000 pays an APR of 6% compounded monthly. What is the APY? (Round your answer to two decimal places.)

It would be 18 cm

This is what i found “an explicit formula designates the nth term of the sequence, as an expression of n (where n = the term's location). it defines the sequence as a formula in terms of n. this example is an arithmetic sequence(the same number, 5, is added to each term to get to the next term).” i hope this you for what your looking for. can you plz mark me brainliest?