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In Mathematics / College | 2025-07-03

You deposit $10,000 in an account that pays 1.49% interest compounded quarterly.

A. Find the future value after one year.

B. Use the future value formula for simple interest to determine the effective annual yield.

Asked by lawson9637jsjakqkw

Answer (2)

The future value after one year is $10,149.42 , and the effective annual yield is 1.49% when interest is compounded quarterly at a nominal rate of 1.49%. ;

Answered by SophiaElizab | 2025-07-07

The future value after one year is approximately $10,149.42, and the effective annual yield is about 1.49%.
;

Answered by SophiaElizab | 2025-07-09

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