Duplicate Question
The question on this page has been marked as a duplicate question.
Original Question
Assume an 18-month CD purchased for $7000 pays an APR of 5% compounded monthly. What is the APY? APY=____%Question
Assume an 18-month CD purchased for $7000 pays an APR of 5% compounded monthly. What is the APY?
Answers
Reiny
Did you look at my previous answer to this question??
All you did is change the 3% to 5%.
What changes do you think you have to make to my solution?
All you did is change the 3% to 5%.
What changes do you think you have to make to my solution?
matt
i know but it was wrong so it change %