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May 30, 2015

Homework Help: business math

Posted by angela on Friday, January 10, 2014 at 5:58pm.

. Compute the amount of compound interest earned in 1 year for an investment of $1,000,000 with a nominal interest rate of 8% compounded quarterly.

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

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