The APR offered by a bank is 8% per year, compounded monthly. What is the APY?
Enter your answer with exactly two decimal place, as in "8.00" for 8%. Do not use "%".
The APR offered by a bank is 8% per year, compounded monthly. What is the APY?...
If an account has an APR of 3%, compounded monthly, what is the APY? Give your answer as a percentage (but leave out the % symbol) and round to 2 decimal places. Suppose you put $1200 in a savings account at an APR of 5% compounded quarterly. How much interest was earned after 4 years? Round to the nearest cent and leave off the $ symbol.
Bank One offered a 10-year certificate of deposit (CD) at 4.8% interest compounded quarterly. On the same day on the Internet, First Bank offered a 10-year CD at 4.79% compounded monthly. Find the APY for each CD. Which bank paid a higher APY? The APY for the CD at Bank One is % (Type an integer or decimal rounded to three decimal places as needed.) The APY for the CD at First Bank is % (Type an integer or decimal...
2. (10 pts) You borrow $40,000 from the local bank at 5% APR, compounded monthly on a 6-year loan but you want to pay for the loan with payments every four months. (a) What is your effective interest on your 4-month payment? (b) What is your payment made every four months? (c) What is the APY for your loan with your payments??
Suppose that you invest $400 in a bank account that has APR of 6% and it is compounded monthly (12 times a year) If we use the formula F=P*(1 + r), What is the value for "r"? Round all money answers to the nearest cent. If you invest $400 in this account, how much money will you have after 1 month? How much money will you have in your account after 1 year? What is the amount of interest we...
You have found three investment choices for a one-year deposit 10.4% APR compounded monthly, 10.4% APR compounded annually, and 9.7% APR compounded daily. Compute the EAR for each investment choice (Assume that there are 365 days in the year.) (Note: Be careful not to round any intermediate steps less than six decimal places.) The EAR for the first investment choice is %. (Round to three decimal places.) The EAR for the second investment choice is % (Round to three decimal...
3. You have found three investment choices for a one-year deposit:10.0 % APR compounded monthly, 10.0% APR compounded annually, and 9.0% APR compounded daily. Compute the EAR for each investment choice. (Assume that there are 365 days in the year.) (Note: Be careful not to round any intermediate steps less than six decimal places.) 4. Suppose Capital One is advertising a 60-month, 5.99 %APR motorcycle loan. If you need to borrow$8,000to purchase your dream Harley-Davidson, what will be your monthly...
You have found three investment choices for a one-year deposit: 11% APR compounded monthly, 12% APR compounded annually, and 9% APR compounded daily. Compute the EAR for each investment choice. (Assume that there are 365 days in the year.) For the case of 11% APR compounded monthly the EAR IS %. (Round to three decimal places.) For the case of 12% APR compounded annually the EARS %. (Round to three decimal places.) For the case of 9% APR compounded daily...
can someone please help me QUESTION 2 Find the annual percentage yield (APY) of an account with an APR of 5.6% compounded monthly. Round to two decimal places. QUESTION 3 Find the savings plan balance after 5 years with an APR of 8.8% and monthly payments of $572. QUESTION 4 You intend to create a college fund for your baby. If you can get an APR of 7% and want the fund to have a value of $158,962 after 16...
Marit Brunsell deposited $65,000 at Bank of America at 8% interest compounded quarterly. What is the effective rate (APY)? (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)
You have found thrown choice for a one year deposit 11 5% APR compounded monthly 115% APR compounded annually, and 108 APR compounded daily Compute the EAR for each investment choice (Assume that there are 365 days in the year) (Note: Be careful not to round any intermediate pe han decimal place) The EAR to the foot investment choice is I (Round to three decanal places)