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What is the apy on the credit card

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Reference no: EM132729593

Problem 1: Herman opened a credit card at a department store with an APR of 24.45% compounded semiannually. What is the APY on this credit card?

A.48.90%

B.12.13%

C.33.63%

D.25.94%

Problem 2: Gabriel is comparing three investment accounts offering different rates.

Account A: APR of 2.85% compounding monthly

Account B: APR of 2.98% compounding quarterly

Account C: APR of 2.90% compounding daily

Which account will give Gabriel at least a 3% annual yield?

A. Account A

B. Account B

C. Account C

D. Account B and Account C

Reference no: EM132729593

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