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Math201: Directions: Annual Percentage Yield (APV). Find the annual percentage yield (to the nearest 0.01%) in each...

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Advance Math

Math201:

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

1.) A bank offers an APR of 3.2% compoundedmonthly.

Directions: Continuous Compounding. Use the formula forcontinuous compounding to compute the balance in each account after1,5, and 20 years. Also, find the APY for this account.

1.) A $2,000 deposit in an account with an APR of3.1%

Answer & Explanation Solved by verified expert
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Answer We have to find the annual percentageto the nearest 001 1A bank offers an APR of 32 compounded monthly here r 32 0032 n12monthly APY 1 00321212 1 0032473534 324    See Answer
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