document.write( "Question 1172744: The First National Bank is offering a 5 year certificate of deposit (CD) at 4% interest compounded quarterly. (Round your answers to two decimal places.)\r
\n" ); document.write( "\n" ); document.write( "What is the annual percentage yield of each CD?\r
\n" ); document.write( "\n" ); document.write( "I got the compound amount, which is $8541.33.\r
\n" ); document.write( "\n" ); document.write( "I'm having trouble getting the APY. I got 22.02% which was wrong. \n" ); document.write( "

Algebra.Com's Answer #797864 by ikleyn(52782) $\"\"$ $\"About$

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\n" ); document.write( "The First National Bank is offering a 5 year certificate of deposit (CD) at 4% $\"highlight%28annual%29\"$ interest compounded quarterly. \r
\n" ); document.write( "\n" ); document.write( "(Round your answers to two decimal places.) \r
\n" ); document.write( "\n" ); document.write( "What is the annual percentage yield of each CD?\r
\n" ); document.write( "\n" ); document.write( "I got the compound amount, which is $8541.33.\r
\n" ); document.write( "\n" ); document.write( "I'm having trouble getting the APY. I got 22.02% which was wrong.
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document.write( "    APY =  =  = 0.040604 = 4.06% (rounded).     ANSWER \r\n" );
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\n" ); document.write( "\n" ); document.write( "See the lesson\r
\n" ); document.write( "\n" ); document.write( " - Problems on discretely compound accounts \r
\n" ); document.write( "\n" ); document.write( "in this site, and learn the subject from there.\r
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\n" ); document.write( "\n" ); document.write( "After reading this lesson, you will tackle such problems on your own without asking for help from outside.\r
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\n" ); document.write( "\n" ); document.write( "Also, you have this free of charge online textbook in ALGEBRA-I in this site\r
\n" ); document.write( "\n" ); document.write( " - ALGEBRA-I - YOUR ONLINE TEXTBOOK.\r
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\n" ); document.write( "\n" ); document.write( "The referred lesson is the part of this online textbook under the topic \"Logarithms\".\r
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\n" ); document.write( "\n" ); document.write( "Save the link to this online textbook together with its description\r
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\n" ); document.write( "\n" ); document.write( "Free of charge online textbook in ALGEBRA-I
\n" ); document.write( "https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson\r
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\n" ); document.write( "\n" ); document.write( "to your archive and use it when it is needed.\r
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\n" ); document.write( "\n" ); document.write( "Happy learning (!)\r
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