Barca opened up a compounded daily interest account that paid 2.73% annual interest. What is the total percent yield for this account after 7 years. Round your answer to the nearest tenth of a percent. Do not input the percent sign. Example: 15.2 The following is the % Yield function where: r is the annual interest rate, n is the number of compounding times per year t is the number of years in the image.
Barca opened up a compounded daily interest account that paid 2.73% annual interest. What is the total percent yield for this account after 7 years. Round your answer to the nearest tenth of a percent. Do not input the percent sign. Example: 15.2 The following is the % Yield function where: r is the annual interest rate, n is the number of compounding times per year t is the number of years in the image.
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Question
Barca opened up a compounded daily interest account that paid 2.73% annual interest.
What is the total percent yield for this account after 7 years.
Round your answer to the nearest tenth of a percent. Do not input the percent sign. Example: 15.2
The following is the % Yield function where:
- r is the annual interest rate,
- n is the number of compounding times per year
- t is the number of years
in the image.
![% Yield
n-t
= (₁ + -—- )^²* —- ₁1
1
n](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fee5db8a0-4e04-4f68-86d6-127794819943%2Feb430eb4-b680-4ba1-ab20-83404f976148%2Fp509ik_processed.jpeg&w=3840&q=75)
Transcribed Image Text:% Yield
n-t
= (₁ + -—- )^²* —- ₁1
1
n
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