you need to show the original formula. the formual with values inclueded, the entire calculated value and rounded answer.
asked Jul 12 in Algebra 1 Answers by nik

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1 Answer

Since no amount of money is specified, the yield will be percentage growth after 12 months.

6.23% annually is 6.23/4%=1.5575%=0.015575 quarterly.

The growth rate after 4 quarters is 1015575⁴=1.06377 approx, that is, 6.38%.

 

answered Jul 12 by Rod Top Rated User (589,180 points)

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