Thursday

December 18, 2014

December 18, 2014

Posted by **laurin** on Friday, November 2, 2012 at 10:27pm.

- math -
**Henry**, Sunday, November 4, 2012 at 8:28pmP = Po(1+r)^n.

We can use any value for the Initial

deposit, but the for the time should be

for one year.

Po = $1.00.

r = (5%/4)/100% = 0.0125 = Quarterly %

rate expressed as a decimal.

n = 4comp./yr * 1yr = 4 Compounding periods.

P = (1.00(1.0125)^4 = $1.0509.

APY = ((P-Po)/Po) * !00%.

APY=((1.0509-1.00)/1.00) * 100%=5.09%.

**Answer this Question**

**Related Questions**

Math - If you deposit P dollars into a bank account paying an annual interest ...

math - Samantha opened a savings account and deposited some money into the ...

Math Personal Finance - Assume we invest $2000 for one year in a savings account...

Algebra 2 - Suppose you deposit $1500 in a savings account that pays interest at...

math - chris put $1,500 in a savings account at an annual interest rate of 5%. ...

Math - (a) Themba wants to deposit a sum of money into a savings account so that...

math - Imagine a local bank representative is assisting you with establishing an...

Finance - I need help computing the Annual percentage yield (APY) for a savings ...

Finance - I need help computing the Annual percentage yield (APY) for a savings ...

pre algebra - At the beginning of the year 2000, Bob put $100 in a savings ...