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UsingTable 11-1, compute the amount of compound interest (in $) earned in 1 year and the annual percentage yield (APY) for the investment. (Round your
UsingTable 11-1, compute the amount of compound interest (in $) earned in 1 year and the annual percentage yield (APY) for the investment. (Round your answers to two decimal places.)
| Principal | Nominal Rate (%) | Interest Compounded | Compound Interest Earned in 1 Year | Annual Percentage Yield (APY) |
|---|---|---|---|---|
| $3,000 | 16 | semiannually | $ | % |
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Sampling
Authors: Steven K Thompson
3rd Edition
111816296X, 9781118162965
