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1-Find the annual percentage yield(APY) in the following situation. A bank offers an APR of 1.84% compounded monthly. The annual percentage yield is %.________ (Do

1-Find the annual percentage yield(APY) in the following situation.

A bank offers an APR of 1.84% compounded monthly.

The annual percentage yield is %.________

(Do not round until the final answer. Then round to two decimal places asneeded.)

2-Use the formula for continuous compounding to compute the balance in the account after1, 5, and 20 years.Also, find the APY for the account.

A $12,000 deposit in an account with an APR of 4.75%.

The balance in the account after 1 year is approximately $_____________(Round to the nearest cent asneeded.)

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