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For each of the following accounts, give the growth factor per compounding period, then give the annual growth factor and the annual percent change (APY).

For each of the following accounts, give the growth factor per compounding period, then give the annual growth factor and the annual percent change (APY). a. Account A has a 4% APR compounded monthly Preview i. Monthly growth factor: 1.003 ii. Annual growth factor: 1.00659998 Preview iii. APY: 3.65998 % Preview b. Account B has a 3.2% APR compounded daily. Assume there are 365 days in the year. i. Daily growth factor: 008 Preview ii. Annual growth factor: 4.096 Preview iii. APY: 3005 Preview

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