SOLUTION: Thank you in advance for helping me set this up and solve. Find the effective yield, to the nearest tenth of a percent, of an investment at 7.5% compounded monthly.
Algebra.Com
Question 177263This question is from textbook college algebras
: Thank you in advance for helping me set this up and solve. Find the effective yield, to the nearest tenth of a percent, of an investment at 7.5% compounded monthly.
This question is from textbook college algebras
Found 2 solutions by stanbon, delta123:
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Find the effective yield, to the nearest tenth of a percent, of an investment at 7.5% compounded monthly.
--------------------
Let the investment be P dollars.
------------
A(t) = P(1 + (0.075/12))^(12*1)
A(t) = P(1.00625)^12
A(t) = P(1.0776..)
A(t) = P + 0.0776..P
-------------------------
effective yield is 0.0776 = 7.76%
=====================================
Cheers,
Stan H.
Answer by delta123(1) (Show Source): You can put this solution on YOUR website!
solve 6x²+3x-18=0 using the quadratic formula. 2. caluculate the value of the discriminant of x²+4x+4=0. 3. if f(t)=2t²-4t-1 find f(-1)
RELATED QUESTIONS
What rate of interest, to the nearest tenth of a %, compounded annually is needed for an... (answered by jim_thompson5910)
A passbook savings account has a rate of 9%. Find the effective annual​ yield, rounded... (answered by ikleyn)
In Triangle ABC B=5 C=4 the area of the triangle is 15√7 divided by 4. To the nearest... (answered by ikleyn)
Find the effective yield, to the nearest hundreth percent, of an investment at 6%... (answered by stanbon)
Please help me to solve this problem. Thank you in advance for helping to solve this... (answered by josgarithmetic)
Hello and thank you for your help. Could you please help me with this: given the function (answered by robertb)
What is the solution to this problem. Find the effective annual yield of an account... (answered by Boreal)
set up and solve an equation to answer the question below. round your answer to the... (answered by ikleyn)
James plans to invest his $2,755.73 that he has saved in a money market account so that... (answered by Boreal)