Question: Done 8 myopenmath.com A C, @ Question 10 v & 0/2pts O3 99 O Details A bank features a savings account that has an annual

 Done 8 myopenmath.com A C, @ Question 10 v & 0/2pts

Done 8 myopenmath.com A C, @ Question 10 v & 0/2pts O3 99 O Details A bank features a savings account that has an annual percentage rate of r = 3.3% with interest compounded semi-annually. Jack deposits $3,000 into the account. The account balance can be modeled by the nt exponential formula S() = P(l + 1) , where S n is the future value, P is the present value, r is the annual percentage rate, n is the number of times each year that the interest is compounded, and is the time in years. (A) What values should be used for P, r, and n? P = g T= s = (B) How much money will Jack have in the account in 9 years? Answer = Round answer to the nearest penny. (C) What is the annual percentage yield (APY) for the savings account? (The APY is the actual or effective annual percentage rate which includes all compounding in the year). APY = %. Round answer to 3 decimal places.

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