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Directions: Annual Percentage Yield (APV). Find the annual percentage yield (to the nearest 0.01%) in each...

Directions: Annual Percentage Yield (APV). Find the annual percentage yield (to the nearest 0.01%) in each case.

1.) A bank offers an APR of 3.2% compounded monthly.

Directions: Continuous Compounding. Use the formula for continuous compounding to compute the balance in each account after 1,5, and 20 years. Also, find the APY for this account.

1.) A $2,000 deposit in an account with an APR of 3.1%

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Colby Messinger answered 1 year ago
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