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kobusy
1 month ago
12

A bank advertises an APR of 5.5% on personal loans. How much more is the APY when the rate is compounded monthly as compared to

when it's compounded quarterly? Explain your answer.
Mathematics
1 answer:
tester [12.3K]1 month ago
3 0
0.027%. A bank promotes an APR of 5.5% for personal loans. To address this problem, we will utilize the Annual Percentage Yield formula. In this formula, r signifies the interest rate in decimal form, and n represents the number of compounding periods per year. First, we convert the interest rate into decimal format. Next, we will calculate APY while compounding monthly using n = 12 and r = 0.055 within the APY formula. We proceed to do the same for quarterly compounding by substituting n = 4 and r = 0.055 into the APY formula. To determine the difference, we subtract the quarterly APY from the monthly APY. Therefore, the APY for monthly compounding is 0.027% higher than for quarterly compounding.
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PLEASE HELPPP!! Triangle HJK and triangle PMK are similar right triangles.
babunello [11817]
The answer must be B Step-by-step explanation:
7 0
1 month ago
Read 2 more answers
For three consecutive years, Sam invested some money at the start of the year. The first year, he invested x dollars. The second
AnnZ [12381]

Let’s define x as the amount invested by Sam in the first year.
Here are the corresponding expressions derived from the provided descriptions for Sam's investments.

For Sam:
2nd year: investment = 5x/2 - 2000
3rd year: investment = x/5 + 1000

The total Sam invested is:
x + (5x/2 - 2000) + (x/5 + 1000)

Next, we can form the expressions for Sally’s investments.
For Sally
1st year: investment = 3x/2 - 1000
2nd year: investment = 2x - 1500
3rd year: investment = x/4 + 1400

Thus, Sally's total investment is,
total = (3x/2 - 1000) + (2x - 1500) + (x/4 + 1400)

Setting both totals equal gives us:
(x) + (5x/2 - 2000) + (x/5 + 1000) = (3x/2 - 1000) + (2x - 1500) + (x/4 + 1400)

Solving for x,
x = 2000
For Sally's investment for the third year:
investment = x/4 + 1400 = (2000/4 + 1400) = 1900

RESULTS:
Sam's first year = $2000
Sally's third year = $1900
3 0
1 month ago
Which expression is equivalent to StartFraction 3 x Superscript negative 6 Baseline y Superscript negative 3 Baseline Over 15 x
zzz [12365]

Answer:

The appropriate expression is 1 Over 5 x Superscript minus 8 Baseline y Superscript minus 13 Baseline EndFraction

Step-by-step explanation:

In order to simplify the expression \frac{3x^{-6}y^{-3} }{15x^{2}y^{10} } where x ≠ 0, y ≠ 0, we must work through the given expression.

\frac{3x^{-6}y^{-3} }{15x^{2}y^{10} }\\= \frac{3}{15} x^{-6-2}y^{-3-10}\\ = \frac{3}{15}x^{-8}y^{-13} \\ =\frac{1}{5}x^{-8}y^{-13} \\

The appropriate expression is 1 Over 5 x Superscript minus 8 Baseline y Superscript minus 13 Baseline EndFraction

6 0
2 months ago
During a sale, 20-cent candy bars were sold at 3 for 50 cents. How much is saved on 9 bars?
tester [12383]

Answer:

B. $0.30

Detailed explanation:

1 candy bar equals $0.20

3 candy bars equal $0.50

To find the solution, let's calculate for both options:

If you buy each candy bar separately, the cost is $0.20 each. For 9, it would be:

9 x 0.20 = $1.80

If you purchase 3 at a time, they are $0.50 each set. Dividing 9 by 3, then multiplying by 0.50 gives:

9/3 = 3

3 x 0.50 = $1.50

Now calculate the difference between the individual total and the pack total:

$1.80 - $1.50 = $0.30

B. $0.30 is your final answer.

~

8 0
2 months ago
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