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Business Math

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Compute the Annual Percentage Yield (APY) for the investment in the previous question. (Round APY to the nearest hundredths of a percent.)

  • Business Math -

    APY = The interest for 1 year divided by the initial investment:

    APY = (I/Po)*100%.

  • Business Math -

    How to determine the compound amount of an investment of $10,000 with an interest rate of 6% compounded monthly after 4 years requires you to use a table factor that goes beyond the compound interest table Calculate the new table factor for this investment.

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