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wrote...
Express Lane Plus
Posts: 485
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A week ago Edited: A week ago, bio_man
A bank features a savings account that has an annual percentage rate of r = 2.7% with interest compounded Caitlyn deposits $ 12,000 into the account.

The account balance can be modeled by the exponential formula A(t)

where A is account value after t years a is the principal

(starting amount): r is the annual percentage rate: k is the number of times each year that the interest is compounded.

(A) umat values should be used for a, r: and k?

(B) How much money will Caitlyn have in the account in 7 years?


Round answer to the nearest penny.

(C) What is the annual percentage yield (AP Y) for the savings account? (The AP Y is the actual or effective annual percentage rate which includes
all compounding in the year).
Round answer to 3 decimal places.
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wrote...
Educator
A week ago
Check this out :-)
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wrote...
Express Lane Plus
A week ago
Check this out :-)

Are you sure the last one is correct, A diferent tutor have given me a different answer, i have asked him the same question i am asking you
wrote...
Educator
A week ago
Not entirely certain tbh, probably go with the tutor's answer is safer.
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Educator
A week ago
By the way, can you share his solution with me? (for example, a screenshot) I want to see what he did differently
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