SOLUTION: Thank you in advance for helping me set this up and solve. Find the effective yield, to the nearest tenth of a percent, of an investment at 7.5% compounded monthly.
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Question 177263This question is from textbook college algebras
: Thank you in advance for helping me set this up and solve. Find the effective yield, to the nearest tenth of a percent, of an investment at 7.5% compounded monthly. This question is from textbook college algebras
You can put this solution on YOUR website! Find the effective yield, to the nearest tenth of a percent, of an investment at 7.5% compounded monthly.
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Let the investment be P dollars.
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A(t) = P(1 + (0.075/12))^(12*1)
A(t) = P(1.00625)^12
A(t) = P(1.0776..)
A(t) = P + 0.0776..P
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effective yield is 0.0776 = 7.76%
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Cheers,
Stan H.
You can put this solution on YOUR website! solve 6x²+3x-18=0 using the quadratic formula. 2. caluculate the value of the discriminant of x²+4x+4=0. 3. if f(t)=2t²-4t-1 find f(-1)
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