Find the effective rate (APY) for the year given principal = $8,000, interest rate = 6%, and

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Find the effective rate (APY) for the year given principal = $8,000, interest rate = 6%, and compounded quarterly. Round to the nearest hundredth.

Show me how to do it mathematically and not with a calculator in Excel.

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Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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Posted Date: May 18, 2023 03:46 AM

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Find the effective rate (APY) for the year given principal = $8,000, interest rate = 6%, and

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Business Math

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