Question 1000686
You deposit 14,000 in an account that pays 6 percent interest compounded quarterly.

A:find the future value after one year.
FV = PV*(1 + 0.06/4)^4
= 14000*1.015^4
=~ 14859.09
----------------------------
B:Use the future value formula for simple interest to determine the effective annual yield.
-------------
simple interest?
--> 1.015^4
=~ 1.06136
--> ~6.136%