if you deposit money in a savings account with an interest rate (apr) of 6.2% and the account compounds monthly, which is your annual percentage yield (apy)? convert your answer to a percent and round it to two decimal places.

Answers

Answer 1

The Annual Percentage Yield (APY) for the savings account with an APR of 6.2% and monthly compounding is approximately 6.22%.

To calculate the Annual Percentage Yield (APY) for a savings account that compounds monthly, we can use the following formula:

APY = (1 + r/n)^n - 1

Where:

r is the annual interest rate expressed as a decimal (6.2% = 0.062)

n is the number of times the interest is compounded per year (monthly compounding = 12)

Let's plug in the values and calculate the APY:

APY = (1 + 0.062/12)^12 - 1

APY = (1.0051667)^12 - 1

APY ≈ 0.062161 (rounded to five decimal places)

To convert the APY to a percentage and round it to two decimal places, we multiply the result by 100:

APY ≈ 6.22%

Therefore, the Annual Percentage Yield (APY) for the savings account with an APR of 6.2% and monthly compounding is approximately 6.22%. This indicates the effective annual rate of return you would earn on your savings, taking into account the compounding of interest over the course of a year.

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Related Questions

Ninety-three percent of a town’s population owns cars. If the number of cars owned is 5,208, what is the population of the town?
You have 2 attempts left to earn the full credit for this problem.

Answers

Answer:

  5600

Step-by-step explanation:

Let p represent the number of people in the town. If we assume that each car owner owns only one car, then we have ...

  0.93p = 5208

  p = 5208/0.93 = 5600

The population of the town is 5600.

What is the slope of the line through (-10,1) and (0,-4)

Answers

Answer:

y=3/10x+4 thats why i got

Step-by-step explanation:

Find the coordinate of the midpoint of the segment with the given endpoints.
- 9 and 0
The midpoint is
(Simplify your answer.)

Answers

Answer:

4.5

Step-by-step explanation:

-4.5+-4.5=-9

What is the equation of the line that has a slope of 5 and goes through the point (2,7)

Answers

Answer:

y= 5x-3

Step-by-step explanation:

It works with the y=mx+b form. 5 is slope so it is m, and when u do 5(2)=10. In order to get to 7 u must subtract 3, so the answer is y=5x-3! Ur welcome!

The equation of the line that has a slope of 5 and goes through the point (2,7) is y-5x = -3

The formula for calculating the equation of a line in point-slope form is expressed as:

[tex]y-y_1 = m(x-x_1)[/tex]

m is the slope of the line

(x1, y1) is any point on the line

Given the following parameters

m =5

(x1, y1) = (2, 7)

Substitute the parameters into the given formula;

y - 7 = 5(x - 2)

y - 7 = 5x - 10

y - 5x = -10 + 7

y - 5x = -3

Hence the equation of the line that has a slope of 5 and goes through the point (2,7) is y-5x = -3

Learn more here: https://brainly.com/question/17003809

how do you do this one? :/

Answers

Answer:

x = -2 , x = - 4

Step-by-step explanation:

since the function has been factored, you can just set the factors to zero and solve

What is the slope of the line in the graph?
-5
4.
h
-2
4
-5 -4-3-3-14
23
4
5x
-2
1.4
१ १

Answers

Answer:

1 is the slope

according to given graph.

find the value of a²-b² when a-b=3 and a+b=4​

Answers

Answer:

12

[tex] {x}^{2} - {y}^{2} = (x - y) \times (x + y) = 3 \times 4 = 12 [/tex]

Evaluate the formula for the volume of a rectangular prism to solve the problem.



Volume = length times width times h. A swimming pool has a height of 3 meters, width of 25 meters, and length of 50 meters.

West junior High needs to fill its swimming pool with water. Determine the amount of water it needs by finding the volume of the pool. Use the drop-down menus to complete the statements.

Answers

Answer:

B, A, C, and D

Step-by-step explanation:

Did the assignment

Answer:

First, write the  

✔ formula: V = lwh

.

Next, use parentheses when you substitute  

✔ 50, 25, and 3

for l,w, and h.

Now, simplify by  

✔ multiplying

50, 25, and 3.

The volume of the pool is  

✔ 3,750

m3.

pls help, will give brainliest

Answers

Answer:

U HAD IT RIHH THERE..........GO ON b AND D

Step-by-step explanation:

I need help Asap!!!!!!!!!

Answers

-8 and 3 ...... I think

Please help I’ll give you guys brainiest. !!!!!

Answers

Answer:

g(3) = 8

g(-6) = -37

Step-by-step explanation:

g(x) = g(3) = 3^2-1 =8

g(x) = g(-6) = -6^2-1 = -37

Hope this helps!

Answer:

g(3)= 8

g(-6)= 35

Step-by-step explanation:

g(3) = [tex]3^{2}[/tex]-1

g(3) = 9 - 1

g(3) = 8

g(-6) = [tex]-6^{2}[/tex]-1

g(-6) = 36 - 1

g(-6) = 35

What is the value of x in the figure below?
A. 22.5°
B. 45°
C. 55°
D. 57.5°​

Answers

Answer:

sorry i cant see the pic

Step-by-step explanation:

How can you interpret solutions as viable or nonviable options in a model?

Answers

Step-by-step explanation:

inequalities is your answer

hope this helps

6.4 divided by 0.44
Giving brainliest. :)

Answers

Answer:

14.5454545455

Step-by-step explanation:

divide

can I pleas have some help on these questions. you will get Brainiest and lots of points. THANK YOU. here is the question :
Find the first five terms of each sequence. Separate your answers with commas and no spaces: 1,2,3,4,5

a1 = -5, an = 3(an-1), n ≥ 2
a1 = 4, an = -2(an-1) +1, n ≥ 2
a1 = -5, an = -3(an-1) -1, n ≥ 2

Answers

Answer:

3,6,5,8,1

Step-by-step explanation:

Which absolute value equation shows the distance this temperature reading is from zero?

Answers

Answer: positive 65

Step-by-step explanation:

brainliest for correct answer please help

Answers

Answer:

c

Step-by-step explanation:

Answer: B

Step-by-step explanation: It could be completely wrong but its my best guess- I didnt really go deaply into this lesson yet (or at least pay attention)

Solve the literal equation for A
2A+x=-8
and then Evaluate for X=-4 and after simplify
PLZ HELP ITS DUE TODAY

Answers

Answer:

a=[tex]\frac{-1}{2}[/tex]x−4

Step-by-step explanation:

Step 1: Add -x to both sides.

2a+x+−x=−8+−x

2a=−x−8

Step 2: Divide both sides by 2.

[tex]\frac{2a}{2}[/tex]=[tex]\frac{-x-8}{2}[/tex]

I NEED HELP ASAP please!!!!

Answers

Answer:

A

Step-by-step explanation:

the equation doesn't use the Additive Inverse.

Please answer correctly !!!!!!!!! Will mark brainliest !!!!!!!!!

Answers

Answer:

13x - 8y

Step-by-step explanation:

Step 1: Write expression

(6x - y) + (7x - 7y)

Step 2: Combine like terms

13x - 8y

Solve the following equation for y. 4x - 6y - 8 = 0

Answers

Answer:

y = 2/3x + -4/3

Step-by-step explanation:

4x - 6y - 8 = 0 (Add -4x to both sides)

-6y - 8 = 4x (Add 8 to both sides)

-6y = 4x + 8 (Divide -6 from both sides)

y = 2/3x + -4/3

52 less than 5062 is

Answers

The answer is 5,012. I hope that’s right ‘

According to the table , how many hours are of training would you need to have a monthly pay $2620

Answers

Answer:

80 hours is needed

Step-by-step explanation:

answer is d

can someone please help me solve this? i suck at anything with numbers

Answers

Answer:

20, 24

Step-by-step explanation:

Each term is 4 more than the one before it.

To obtain the next term add 4 to the previous ter, that is

16 + 4 = 20

20 + 4 = 24

The next 2 terms are 20, 24

Answer: i,20 k,24

Step-by-step explanation: each time the number increases by 4 and the letter increases by 2, hope this helps!

В.
(5x + 12)
(9x + 1)
С
A
(10x- 37)°

Answers

Answer:57

Step-by-step explanation:

(5x+12)+(9x+1)+(10x-37)=360

24x-24=360

24x=384

X=16

<bca= (10x16-37)=123

<bca= 180-123= 57

The value of x is 16.

What is Exterior angle sum?

A triangle's exterior angles add up to 360 degrees. The angle that is created between one of a triangle's sides and its adjacent extended side is known as the external angle. A triangle has three external angles.

Sum of all the exterior angles of a triangle = 360°

Given:

Exterior <A= 9x+ 1

Exterior <B=  5x+ 12

Exterior <C=  10x - 37

As, we know Sum of exterior angle of a triangle is 360 degree.

So, 9x + 1+ 5x+ 12 + 10x - 37 = 360

24x - 24= 360

24x= 384

x= 16

Hence, the value of x is 16.

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Does anybody know this? ill give brainliest to anyone to answers it correctly

Answers

Answer:

25/3

Step-by-step explanation:

not confident if you know please make me correct

Answer:

[tex]25/3.[/tex]

Step-by-step explanation:

[tex]if \: x = 5\\ if \: y = 3 \\ then \to \\ {9x}^{2} y {}^{ - 3} = \frac{ {9x}^{2} }{y{}^{3} } = \frac{9 \times {5}^{2} }{ {3}^{3} } \to \\ \\ {9x}^{2} y {}^{ - 3} = {5}^{2}3{}^{ - 1} \\ {9x}^{2} y {}^{ - 3} = \boxed{25/3} \to \: if \: x \: = 5 \: and \: y = 3.[/tex]

♨Rage♨

Jonas buys 8.5 pounds of cheese to make sandwiches for a family reunion picnic. If 0.7 of the cheese he buys is American cheese, how many pounds of American cheese does he buy?


A.) 0.565 pound


B.) 0.595 pound


C.) 5.65 pounds


D.) 5.95 pound
I WILL MARK BRAINLEST

Answers

Answer:

D) 5.95 pounds

Step-by-step explanation:

Multiply 8.5 by 0.7

Answer:

it is D.) 5.95 pound

Step-by-step explanation:

Which unit abbreviation is a measurement of force?
A.
m/s
B.
m/s2
C.
N
D.
N/s Could anyone help?

Answers

Answer: C. N

N stands for Newtons

In terms of SI units, 1 newton = 1 kg m/s^2

It's based off the equation F = ma, which is Newton's second law.

------------

Extra info:

Choice A is velocityChoice B is accelerationChoice D is some unit I don't really recognize, so I'm not sure if its nonsense or it may have some use. Though I'm sure that N/s isn't a measurement of force.

Answer:

C.  N

Step-by-step explanation:

5). 30 is 200% of what number?

Answers

The correct answer is 15

Answer:

15

Step-by-step explanation:

Is means equals and of means multiply

30 = 200% * x

Change the percent to a decimal

30 = 2.00 *x

Divide each side by 2

30/2 = 2x/2

15 =x

The number is 15

A density curve is shown below.
If a point within the density curve is chosen at random,
what is the probability that the value lies between 2.25
and 4.75?

Answers

Answer:

.417

Step-by-step explanation:

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