Eduardo opened a credit card at a department store with an APR of 22.29% compounded semiannually. What is the APY on this credit card?

44.58%

11.15%

23.53%

49.55%

Question

Eduardo opened a credit card at a department store with an APR of 22.29% compounded semiannually. What is the APY on this credit card?

 44.58%

 11.15%

 23.53%

 49.55%

anonymous · Answer

the third one is the only reasonable answer i think
you can compute 
$$(1+\frac{.222}{2})^2-1$$ and see what you get

anonymous · Answer

44.58%

anonymous · Answer

I rounded and got the 3rd one too, what about this one? :

Irene has a previous balance of $987 on a credit card with a 17.3% APR compounded monthly. If she made a payment of $50 this month, what is the new balance on her credit card?

 $1,157.75

 $1,107.75

 $937.00

 $951.23

anonymous · Answer

$1,107.75

anonymous · Answer

@katragaddasaichandra .....????

anonymous · Answer

How did you get the 1rst one for the first question?