Question

Asked Jan 29, 2019

A passbook savings account has a rate of 8 %

.

Find the effective annual yield, rounded to the nearest tenth of a percent, if the interest is compounded semiannually.

The effective annual yield isA passbook savings account has a rate of 8 %

.

Find the effective annual yield, rounded to the nearest tenth of a percent, if the interest is compounded semiannually.

The effective annual yield is ___%.

Step 1

Let’s assume the final amount given in the passbook is A.

The given data is rate of interest 8%, time is 1 year and compound semiannually.

Now we know the formula as shown on the board.

Here P = principal amount

r = rate of interest (in decimals)

n = number of times compounded annually

t = time (In years)

Step 2

Now we put the values in the formula

Step 3

When compounded semiannually then per...

Tagged in

Q: Approximate the number using a calculator. 2.3 2.3 e (Round to three decimal places.) Enter your ans...

A: We first plug e^2.3 in the calculator.

Q: How do you solve 1/2 +12/x2 > 5/x

A: The given inequality is,

Q: Explain how f (x) = (x − 1)2 + 3 is obtained from f (x) = x2

A: The given functions are f(x) = (x-1)2 +3 and f(x) = x2.Sketch the graph of the functions f(x) = (x-1...

Q: Find an equation of the circle whose diameter has endpoints (-5, 6) and (3, 2). X

A: Click to see the answer

Q: Find the average rate of change of f(x)= 3x^2−x from x1=2 to x2=4

A: The given function is f ( x ) = 3x2 – x and x1 = 2 , x2 = 4. In order to find the average rate of ch...

Q: A ball is thrown in the air from the top of a building. Its height, in meters above ground, as a fun...

A: (a)We have to find the time taken by the ball to reach at maximum height.The height function of the ...

Q: What is the equation of the function that is obtained from f (x) = | x | by reflecting about the x -...

A: Given information:The given function is

Q: List all values of x for which the rational expression is undefined 12/-3x

A: To calculate the all possible value of x for which the rational expression 12/(-3x) undefined. Now, ...

Q: Consider the arithmetic sequence with the first term ai = 300 and common difference d=-90. What are ...

A: In an arithmetic sequence the terms can be obtained by adding the common difference to the previous ...