document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1195615>Question 1195615</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A bank features a savings account that has an annual percentage rate of  <BR>\n" );
document.write( "3.2 % with interest compounded semi-annually. Constanza deposits $5,500 into the account.\r<BR>\n" );
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document.write( "What is the annual percentage yield (APY) for the savings account?<BR>\n" );
document.write( "APY= ___ %. Round to the nearest hundredth of a percent. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #828334 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=828334\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> APY=(1+(r/n))^nt minus 1<BR>\n" );
document.write( "=1.016^2-1, the 0.016 being half of the 3.2% to do semi-annually<BR>\n" );
document.write( "0.032256 or 3.23% </SPAN>\n" );
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