Justin deposits $8,000 in a one-year cd at 3.1% interest, compounded daily. what is justin’s annual percentage yield (apy) to the nearest hundredth of a percent? (hint: find the interest using the compounding formula. then use the simple interest formula to find the rate, as if the interest you found at first were simple interest.)

Justin’s annual percentage yield = 3.15%

Step-by-step explanation:

Justin deposits $8,000 in a one-year CD at 3.1% interest, compounded daily.

WE apply compound interest formula

P is the initial amount deposited= 8000

r is the rate of interest = 3.1% = 0.031

n is the number of periods compounded = 365

t is the number of years = 1

Plug in all the values and find out A

A=8000 * (1.000084931506849315)^365

A= 8251.87

Interest amount = 8251.87 - 8000= $251.87

To find annual percentage yield we use simple interest formula

Interest = P*r*t

251.87 = 8000* r * 1

Divide by 8000 on both sides

r =0.0314838

To find out the percentage we multiply by 100

r =0.0314838 * 100 = 3.14838

Its approximately 3.15%

answer: a video game has three difficulty levels: easy, medium, and expert. the game's scoring works in such a way that a player has to score a fixed number of points to advance to the next level, and then the scoring starts over. the total score needed to clear all three difficulty levels is 7,500. two times the number of points needed to clear the easy level is 500 more than the number of points needed to clear the medium level. twice the number of points needed to clear the medium difficulty level is 1,500 more than the number of points needed to clear the expert level. if x, y, and z represent the easy, medium, and expert levels, respectively, and a is the coefficient matrix of the system of equations modeling this situation, identify the inverse matrix, a-1, and the solution matrix, x, of the system of equations.

ask for details followreport by buttfacelily 2 minutes ago

answers

rauschg

rauschg · hand

know the answer? add it here!

step-by-step explanation: