harrisonroberts018 harrisonroberts018

12-02-2024
Mathematics

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Use technology to compute the APY for each of the following accounts.
a. An account with quarterly compounding and an APR of 3.1%
b. An account with monthly compounding and an APR of 3.1%
c. An account with daily compounding and an APR of 3.1%
d. Based on the results of parts (a), (b), and (c), estimate the APY for an account with continuous compounding (where the number of compoundings becomes very large).

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