SOLUTION: What is the APY for money invested at each rate? A 15% compounded quarterly B 13% compounded continuously APY is %?

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Question 1182605: What is the APY for money invested at each rate?
A 15% compounded quarterly
B 13% compounded continuously
APY is %?
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
the first is (1+(0.15/4))^4-1=15.87%
the second is e^(0.13)-1=13.88%; for principal P compounded continuously, the amount present at time t in years is Pe^rt