document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1149281>Question 1149281</A>: <I><SPAN STYLE=\"word-break: break-all;\"> For each of the following accounts, give the growth factor per compounding period, then give the annual growth factor and the annual percent change (APY).\r<BR>\n" );
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document.write( "Account A has a 5% APR compounded monthly.\r<BR>\n" );
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document.write( "Monthly growth factor: <BR>\n" );
document.write( "   <BR>\n" );
document.write( "Annual growth factor: <BR>\n" );
document.write( "   <BR>\n" );
document.write( "APY: <BR>\n" );
document.write( " %   <BR>\n" );
document.write( "Account B has a 3.2% APR compounded daily. Assume there are 365 days in the year.\r<BR>\n" );
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document.write( "Daily growth factor: <BR>\n" );
document.write( "   <BR>\n" );
document.write( "Annual growth factor: <BR>\n" );
document.write( "   <BR>\n" );
document.write( "APY: <BR>\n" );
document.write( " %   <BR>\n" );
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document.write( "Account A: 5% APR, compounded monthly (12 times per year)<br><BR>\n" );
document.write( "(1) monthly interest rate: 5% (i.e., 0.05) divided by 12<BR>\n" );
document.write( "(2) monthly growth factor: 1 plus the monthly interest rate<BR>\n" );
document.write( "(3) annual growth factor: monthly growth factor, to the 12th power<BR>\n" );
document.write( "(4) APY: annual growth factor, minus 1<br><BR>\n" );
document.write( "Account B: same process; different numbers.<br><BR>\n" );
document.write( "You can do the calculations....<br><BR>\n" );
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