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Google Chrome File Edit View History Bookmarks Profiles Window Help GO Q 8 Thu Oct 23 3:20 PM Home | myLU ZU HW: 2.1, 2.3 - 2.4, and 2.6 A ALEKS - Jacob Cascio - HW: ora Problem S X G Find the compound interest a 2o www-awu.aleks.com/alekscgi/x/Isl.exe/10_u-IgNslkr7j8P3jH-li-WSp540wncg8Tof4a5q5fmgWG31RYRVbH2NRsTzz_VgguxITC3QJxVuFuDOOpPiuPScUm2Z... C 1495390 E HW: 2.1, 2.3 - 2.4, and 2.6 Assignment Jacob v Al Chat with PDF Upload for Unlocks Expert Help Study Resources v Question 45 of 56 (1 point) | Question Attempt: 1 of Unlimited Ask A Espanol Annual Percentage... FM Chot 5 Test No... 45 46 47 48 49 50 51 52 53 54 55 56 Verify with tutor When an initial amount of P dollars is invested at / % annual interest compounded m times per year, the value of the account (A) after t years is given by the equation solve this problem A = P( 1 +")m Write an equation that represents the value in an account that starts out with an initial investment of $10,000 and pays 6% interest compounded monthly. Answer explanation by Al Answer: 13.65% Step-by-step The equation that represents the value of the account is A = X . Nominal rate r = 13% = 0.13, compounded quarterly - m = 4. . Effective annual rate formula: EAR = (1 + mm )" - 1. . Compute: (1 + 0.13)* - 1 = (1.0325)4 - 1 ~ 1.13647595 - 1 = 0.13647595. . Convert to percent and round to two decimals: 0.13647595 ~ 13.65%. Effective interest rate: 13.65%. 1 2 3 4 5 Sources 1 Effective Annual 2 MSDS 430 Module 3- Annual Percentage 4 What Is a Interest Rate By.. 2 Python... Rate and Effective. Annual ' Effective Interest ... Module 2 Python ... Annual Percentage.. I Effect. Verify with tutor Ask Al your follow up question. Do not enter personal information. ? G Attach image Upload doc Check Save For Later Submit Assignment 2025 McGraw Hill. Terms of Use | Privacy Center | Accessibility reply week 4 38 OCT 2 exec 23 atv 4