Find the annual percentage yield (APY).A bank offers an APR of 2.9% compounded monthly.
A. 5.88%
B. 0.48%
C. 2.94%
D. 0.24%
Answer: C
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Solve the problem.You want to have a 
college fund in 20 years. How much will you have to deposit now in an account with an APR of 5% and daily compounding?
A. $35,950.49 B. $36,790.46 C. $36.794.39 D. $38,940.29
Write the first five terms of the arithmetic sequence with the given first term a and common difference d.a = 4; d = 5
A. 4, 8, 12, 16, 20 B. 4, 9, 14, 19, 24 C. 9, 14, 19, 24, 29 D. 0, 4, 9, 14, 19
Establish the identity.
= 
What will be an ideal response?
Compound interest factors are provided below:
? ? 5%, n = 10 5%, n = 20 10%, n = 10 10%, n = 20 Future value of a single sum 1.629 2.653 2.594 6.728 Future value of an ordinary annuity 12.578 33.067 15.937 57.275 Present value of a single sum 0.614 0.377 0.386 0.149 Present value of an ordinary annuity 7.722 12.462 6.145 8.514 Present value of an annuity due 8.108 13.085 6.759 9.365 Using the above factors, answer each of the following questions. a.How much will you have in 10 years if you invest $30,000 in an investment that earns 10% semiannually?b.How much do you have to invest today to have $30,000 in 10 years if the investment earns 10% annually?c.How much will you have in 10 years if you invest $15,000 at the end of each year in an investment earning 10% annually?d.How much do you have to invest today and every six months thereafter for the next 10 years if you want to accumulate a total of $400,000 10 years from today in an investment paying 10% semiannually? What will be an ideal response?