confi9541 confi9541
  • 21-05-2020
  • Mathematics
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Phil Nelson deposited $35,000 at Wachovia Bank at 3.5% interest compounded quarterly. What is the APY to the nearest hundredth percent?

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Tundexi
Tundexi Tundexi
  • 25-05-2020

Answer:

APY=1.004%

Step-by-step explanation:

Kindly check attached picture for calculation

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