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Calculate the APY for the three accounts using the 0.75% APR, 0.25% APR and 1.00% APR and assuming they are compounded daily. Keep these
Calculate the APY for the three accounts using the 0.75% APR, 0.25% APR and 1.00% APR and assuming they are compounded daily. Keep these accurate to four decimal places. Reflect on whether they match the claimed APY. Use APY formula!! more NOTE: A share account at SECU is the same thing as a savings account. decimal Deposit Rates APY for share account Share Checking Money Market 0.75/0.75 APY 0.25/025 APY 1.00/1.01 APY APY for checking account % (4 decimals) % (4 decimals) APY for money market account % (4 decimals) Suppose Mrs. Smith receives a gift of $10,000 from a very successful former student and automatically put it in her checking account. If the interest rate never changes, how much will she have in 10 years? She realizes that she will make more money by moving it to her savings account and immediately does so after receiving it. Ten years later, her $10,000 has turned into_ She checks out rates and realizes that she could make even more money by opening a money market and immediately opens a money market for the $10,000. Ten years later, she now has,
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