austiningles2772
austiningles2772 austiningles2772
  • 15-08-2017
  • Mathematics
contestada

Emily opened a credit card at a department store with an APR of 12.36% compounded twice a year. What is the APY on this credit card?

Respuesta :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 15-08-2017
APY=(1+r/k)^(k)-1
R = 0.1236
K compounded twice a year 2

APY=(1+0.1236÷2)^(2)−1
APY=0.1274×100=12.74%
Answer Link

Otras preguntas

there was a long line at the movie theater
What was Thomas Paine purpose in writing The Crisis,No1
What is the value of the algebraic expression if x= 1/2 , y = -1, and z = 2? 6x(y2z) A. -12 B. -6 C. 1 D. 6
The smart, young man graduated at the age of 16Which is the complete subject?
Nellie has an idea for a new shopping plaza for the local community. Which two professionals would she most likely interact with if she needs to get approval fo
F1+F2=ft and f1d1=f2d2 solve for f1 in terms of ft, d1, & d2
Why is it a mistake to overuse exclamation points in your writing?
Once water vapor has been released into the atmosphere, it rises and cools, turning back into a liquid. What is this process called?
When scientists replace a gene (DNA) from one species with the same gene (DNA) from a different species, the same amino acids will be produced. This happens bec
The ___ send in their figures to the fertilizers.