Say you were hired to do marketing for a bank. You are expected to market the great interest rates for loans and savings account. When marketing a loan would it be more appealing to advertise the APR or APY? Pt 2 Say you were hired to do marketing for a bank. You are expected to market the great interest rates for loans and savings account. When marketing a saving account would it be more appealing to advertise the APR or APY? P3 A student puts $10,000 in a savings account that pays 16% annual interest, compounded annually. How much money will the student have at the end of 5 years? How much interest will the student have earned in 5 years? What is the effective yield (APY)? Ending Value: $ (round to the nearest cents) Interest: $ (round to the nearest cents) APY: (written as a decimal, round to the second decimal place)
Say you were hired to do marketing for a bank. You are expected to market the great interest rates for loans and savings account. When marketing a loan would it be more appealing to advertise the APR or APY? Pt 2 Say you were hired to do marketing for a bank. You are expected to market the great interest rates for loans and savings account. When marketing a saving account would it be more appealing to advertise the APR or APY? P3 A student puts $10,000 in a savings account that pays 16% annual interest, compounded annually. How much money will the student have at the end of 5 years? How much interest will the student have earned in 5 years? What is the effective yield (APY)? Ending Value: $ (round to the nearest cents) Interest: $ (round to the nearest cents) APY: (written as a decimal, round to the second decimal place)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Say you were hired to do marketing for a bank. You are expected to market the great interest rates for loans and savings account. When marketing a loan would it be more appealing to advertise the APR or APY?
Pt 2
-
Say you were hired to do marketing for a bank. You are expected to market the great interest rates for loans and savings account.
When marketing a saving account would it be more appealing to advertise the APR or APY?
P3
-
A student puts $10,000 in a savings account that pays 16% annual interest, compounded annually.
How much money will the student have at the end of 5 years? How much interest will the student have earned in 5 years? What is the effective yield (APY)?
Ending Value: $ (round to the nearest cents)
Interest: $ (round to the nearest cents)
APY: (written as a decimal, round to the second decimal place)
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