drhtgsehg6334
16.11.2020 •
Mathematics
Assume that a one-year CD purchased for $4000 pays an APR of 4% that is compounded quarterly. How much is in the account at the end of each compounding period? (Calculate the interest and compound it each period rather than using the compound interest formula. Round your answers to the nearest cent.)
first quarter $
second quarter $
third quarter $
fourth quarter $
How much total interest does it earn? (Round your answer to the nearest cent.)
$
What is the APY? (Round your answer to two decimal places.)
%
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Ответ:
5 (8 – 3) = ( 5 x 8) - (5 x 3)
Step-by-step explanation:
You distribute the 5 over the 8 and the 3 hence the distributive property.