7.) Use the appropriate compound interest formula to compute the balance in the account after the stated period of time

$

22,000 is invested for 2

years with an APR of 2

% and daily compounding.

The balance in the account after 2

years is $

nothing

.

(Round to the nearest cent asneeded.)

8.) Use the appropriate compound interest formula to compute the balance in the account after the stated period of time

$

8,000 is invested for 13

years with an APR of 2

% and monthly compounding.

The balance in the account after 13

years is $

nothing

.

(Round to the nearest cent asneeded.)

9.) Use the compound interest formula for compounding more than once a year to determine the accumulated balance after the stated period.

A $

20,000 deposit at an APR of 5.3

% with quarterly

quarterly compounding for 30

years.

The amount after 30

years will be $

nothing

.

(Round to the nearest cent asneeded.)

10.) Find the annual percentage yield(APY) in the following situation.

A bank offers an APR of 3.6

% compounded daily.

The annual percentage yield is

nothing

%.

(Do not round until the final answer. Then round to two decimal places asneeded.)