A principal amount of $5,000 is placed in a savings account with 5% annual interest compounded quarterly. Part A: List the total account balances for years 0 through 4. Show all necessary work.  Part B: Which type of function best models the data?  Part C: Solve for APY. Show all necessary work.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 23E
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A principal amount of $5,000 is placed in a savings account with 5% annual interest compounded quarterly.

Part A: List the total account balances for years 0 through 4. Show all necessary work. 

Part B: Which type of function best models the data? 

Part C: Solve for APY. Show all necessary work.

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