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Direction: Compounding More than once a Year. Use the appropriate compound interest formula to compute the...

Direction: Compounding More than once a Year. Use the appropriate compound interest formula to compute the balance in each account after the stated period of time.

1.) $10,000 is invested for 5 years with an APR of 2.75% and monthly compounding.

Directions: Annual Percentage Yield (APV). Find the annual percentage yield (to the nearest 0.01%) in each case.

1.) A bank offers an APR of 3.2% compounded monthly.

Directions: Continuous Compounding. Use the formula for continuous compounding to compute the balance in each account after 1,5, and 20 years. Also, find the APY for this account.

1.) A $2,000 deposit in an account with an APR of 3.1%

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