Phil Nelson deposited $35,000 at Wachovia Bank at 3.5% interest compounded quarterly. What is the APY to the nearest hundredth percent?

asked Sep 19, 2021 27.9k views

2 votes

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3 votes

Answer:

APY=1.004%

Explanation:

Kindly check attached picture for calculation

Amsheer answered Sep 23, 2021

3.8k points

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