Answered: selling an investment that earns 4.835%…

selling an investment that earns 4.835% compounded semiannually. What is the APY (in percent) of the investment? (Round your answer to the nearest hun

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter10: Exponential And Logarithmic Functions

Section10.2: Applications Of Exponential Functions

Problem 25PS

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Question

An agent is selling an investment that earns 4.835% compounded semiannually. What is the APY (in percent) of the investment? (Round your answer to the nearest hundredth of a percent.)

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