document.write( "Question 1175041: A passbook savings account has a rate of 5%. Find the effective annual yield if the interest is compounded quarterly.\r
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Algebra.Com's Answer #800626 by ikleyn(52782)\"\" \"About 
You can put this solution on YOUR website!
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\n" ); document.write( "\n" ); document.write( "            The solution by  @ewatrrr is  INCORRECT.\r
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\n" ); document.write( "\n" ); document.write( "            So I came to bring the correct solution.\r
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document.write( "The effective annual yield is  \r\n" );
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document.write( "    \"%281%2B0.05%2F4%29%5E4\" - 1 = \"1.0125%5E4\" - 1 = 1.050945 - 1 = 0.050945,  or, rounded, 0.051, which is 5.1%.    ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "See the lessons\r
\n" ); document.write( "\n" ); document.write( "    - Compounded interest percentage problems \r
\n" ); document.write( "\n" ); document.write( "    - Problems on discretely compound accounts \r
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\n" ); document.write( "\n" ); document.write( "After reading these lessons, 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 lessons are 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( "Happy learning (!)\r
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