a) (1 + .11/12)^{12} - 1 = 11.572%

b) e^{.12} - 1 = 12.750%

CHRISTIAN B.

asked • 10/25/20What is the APY for money invested at each rate?

(A) 11% compounded monthly

(B) 12% compounded continuously

(A) APY=_______ % (Round to three decimal places as needed.)

(B) APY = ________ % (Round to three decimal places as needed.)

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a) (1 + .11/12)^{12} - 1 = 11.572%

b) e^{.12} - 1 = 12.750%

Here's the formula:

fv=p(1+int/c)^(nt)

future value

principal

int

compound

years

times/yr

Be sure to subtract the principal from the fv for the int.

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