Asked by Chris
A passbook savings account has a rate of 8%. Find the effective annual yield if the interest is compounded quarterly.
Answers
Answered by
Writeacher
https://www.google.com/search?q=compound+interest+quarterly&oq=compound+interest+quarterly&aqs=chrome..69i57.7486j0j7&sourceid=chrome&ie=UTF-8
Don't you need to know the amount in the account first?
Don't you need to know the amount in the account first?
Answered by
m
yes i do not
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