Mathematics, 19.10.2021 14:50 axthomas0475

Suppose that you deposit $1000 in a savings account at an APR of 4.5% compounded quarterly. The amount in the account after one year is $1045.77 A Find the annual percentage yield (APY) to the nearest hundredth of a percent. APY = ? B. Why is the APY greater than the APR? PC. If the bank compounded continuously, how would the APY from part A be affected?

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Suppose that you deposit $1000 in a savings account at an APR of 4.5% compounded quarterly. The amou...

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