Raymond B. answered • 07/31/25
Tutor
5
(2)
Math, microeconomics or criminal justice
FV = PV(1+.03/4)^4t
FV/PV = 1.0075^4t = 1.0075^4 if t=1 year
= about 1.03034
= about 3.034% APR
the more compounding the higher the APR, but not by much more
continuous compounding is the limit
e^rt would = e^.03(1) =1.03045 = about 3.045% Annual Percentage Rate
