Chapter 11, Problem 18AT

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

Solve the following word problems by using Table 11-1 or 11-2. When necessary, create new table factors. Round dollars to the nearest cent and percents to the nearest hundredth of a percent.

What is the annual percentage yield of a $10,000 investment for 1 year at

To determine

**To calculate:** The annual percentage yield of investment for principal

Explanation

**Given Information:**

An investment for principal

**Formula used:**

Compounding period can be defined as the duration or length of time from one interest payment to the next. If an investment made for 4 years at

Here, *m* is the period per year.

The interest rate per period can be calculated by dividing the annual, or nominal, rate by the number of periods per year,

Compound amount:

The Compound amount can be calculated by the formula given below:

In Compound interest table

The compound interest can be calculated by the formula given below:

Annual Percentage Yield:

It can be calculated by finding the total compound interest earned in

**Calculation:**

Consider the principal

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