Question

What is the APY for money invested at each​ rate? ​(A) 13​% compounded quarterly ​(B) 12​% compounded continuously ​(A) APY_____ ​(Round to three decimal places as​ needed.)

Answer 1

13% compounded quarterly=(1+.13/4)^4-1=.13647=13.647%
12% compounded continuously=e^.12 -1=.1275=12.75%
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