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OpenStudy (zned6559):
Please Help!!!!!!! What interest rate compounded quarterly will give an effective interest rate of 7%?
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OpenStudy (zned6559):
???????
OpenStudy (jdoe0001):
do you know what an APY is?
OpenStudy (zned6559):
no
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OpenStudy (zned6559):
so how would you solve it
OpenStudy (jdoe0001):
well, you have "r" 7% you have "n" too, compounded quarterly, 4 times
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