Finding annual percentage yield


Assignment:

Question 1. For the following problems, determine how many years it will take for the two accounts to reach the same amount.

A 1000 dollar investment at a rate of 3% compounded monthly and an 1100 dollar investment at a rate of 3.02% compounded annually.
A 2000 dollar investment at a rate of 4% compounded continuously and a 3000 dollar investment at a rate of 5% compounded monthly.

Question 2. Calculate the annual percentage yield for each investment.

A. A savings account paying an annual rate of 4 percent compounded quarterly.
B. A checking account paying an annual rate of 1.5 percent compounded daily.

Question 3. What is the future value if $4900 is invested for 3 years at an annual rate of 12% compounded monthly?

Question 4. What is the annual percentage yield (or effective annual rate) for a nominal rate of 7.3% compounded quarterly?

Provide complete and step by step solution for the question and show calculations and use formulas.

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Mathematics: Finding annual percentage yield
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