Question: Let P be the principal amount, FV be the future value of the investment after one year, and r the APR (as a decimal).

Let P be the principal amount, FV be the future value of

Let P be the principal amount, FV be the future value of the investment after one year, and r the APR (as a decimal). With n compounding intervals per year, FV is given by the equation: (2) Use these equations to compute the future value after 1 year and the APY for the following scenarios. In all cases, r = 0.06 and P= $1000. (You should compute APY to at least 4 decimal places.) 1. Monthly compounding (n = 12)- you should get the same answer as at the end of Table 2. 2. Weekly compounding (n = 52) x (1+2)". 3. Daily compounding (n = 365) FV = Px

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