You deposit $18,500 in a passbook savings account that has a nominal rate of 2.25 %. The Interest is compounded quarterly. Answer the questions below. What is the account balance after one year? The effective annual yield is the simple interest rate that produces the same balance as the given compounded rate. Using the balance formula for simple interest (B=P+/), what is the effective annual yield, expressed as a percentage? % Given r, the decimal form of a nominal interest rate, and n, the number of annual compounding periods, the effective annual yield, Y, in decimal for n Y= (1+)²-1 If you had deposited $18,500 in an account that pays 4.5% (vs. 2.25 %) interest compounded quarterly, what would be the effective annual yield, e 96 If you had deposited $18.500 in an account that pays ? 25% interest compoun od weekchh

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