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Suppose a savings and loan pays a nominal rate of 3.1% on savings deposits. Find the effective annual yield if interest is compounded annually. Question content area bottom Par…
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Suppose a savings and loan pays a nominal rate of 3.1% on savings deposits. Find the effective annual yield if interest is compounded annually. Question content area bottom Par…
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Jun 17, 2024
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Suppose a savings and loan pays a nominal rate of 3.1% on savings deposits. Find the effective annual yield if interest is compounded annually.
Question content area bottom
Part 1
The effective annual yield is enter your response here%.
(Type an integer or a decimal rounded to the nearest thousandth as needed.)
Mathematics
high-school
Amo Robb
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The effective annual yield is approximately
3.164%
.
Belder
answered
Jun 22, 2024
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Belder
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