williemendozaa williemendozaa
  • 12-09-2022
  • Mathematics
contestada

James invests his money in an account paying 3.7% interest compounded quarterly. What is the effective annual yield on this account?

Respuesta :

magicparkour325
magicparkour325 magicparkour325
  • 12-09-2022

Answer:

3.7517%

Step-by-step explanation:

take 3.7 and divide it by 4 to get 0.925

then apply 0.925% to x 4 times to find out the compounded rate

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