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OpenStudy (anonymous):
Earl Miller deposited $25,000 at Y Bank at an interest rate of 12% compounded quarterly. (Use the tables in the handbook.) The effective rate (APY) is:
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OpenStudy (tkhunny):
You should have a formula for that. \(\left(1 + \dfrac{0.12}{4}\right)^{4} - 1\)
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