Question: I need someone to explain how they get the corresponding APR from the APY and how to do the rest of the question(explanation of the
I need someone to explain how they get the corresponding APR from the APY and how to do the rest of the question(explanation of the square roots canceling out part specifically). THIS IS MY SECOND TIME POSTING!
6. Suppose that $3,000 is invested in a 6-month CD with an APY of 1.8%. Complete parts (a) through (d) below. (a) What is the corresponding APR? 016 (b) How much is the investment worth after 6 months? (e) How much is the investment worth after 1 year? Assume that the entire amount is left in the CD to be compounded. (d) How much is the investment worth after 5 years? Assume that the entire amount is left in the CD to be compounded
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