Respuesta :
Answer:
a) 0.0025, 0.25%
b) 0.01575, 1.575%
c) 0.00009315, 0.009315%
Step-by-step explanation:
We are given the following in the question:
a) 3% APR compounded monthly.
[tex]r = \displaystyle\frac{3\%}{12} = \frac{0.03}{12} = 0.0025\\\\\text{In decimal form}\\ = 0.0025\\\text{In percentage}\\=0.0025\times 100\% = 0.25\%[/tex]
b) 6.3% APR compounded quarterly.
[tex]r = \displaystyle\frac{6.3\%}{4} = \frac{0.063}{4} = 0.01575\\\\\text{In decimal form}\\ = 0.01575\\\text{In percentage}\\=0.01575\times 100\% = 1.575\%[/tex]
c) 3.4% APR compounded daily.
[tex]r = \displaystyle\frac{3.4\%}{365} = \frac{0.034}{365} = 0.00009315\\\\\text{In decimal form}\\ = 0.00009315\\\text{In percentage}\\=0.00009315\times 100\% = 0.009315\%[/tex]
