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OpenStudy (anonymous):
** CORRECT ME GET A MEDAL ! Hugh opened a credit card at a department store with an APR of 19.15% compounded semiannually. What is the APY on this credit card? 9.58% 20.07% <-------- 25.56% 38.30% ---- *MY WORK* APY=0.1915/2 = 0.09575 N=2 APY=(1+0.09575)^(2)-1 APY=(1.09575)^(2)-1 APY=1.2007 - 1 APY=0.2007
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OpenStudy (anonymous):
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