A bank advertises an interest rate of 4% per year, compounded monthly Page 7
What is the APY?
The units are percent, but do not enter the % sign. Round 2 decimal places,
Note: if your answer is 5.24%, then enter only 5.24

Given :

Interest rate , r = 4 %.

To Find :

The APY .

Solution :

APY is given by :

Here , r is compound interest and n is number of time compounded .

So ,

Therefore , APY is 30.57 % .

Hence , this is the required solution .

if y=4x then you will substitute 4x in for y in the second equation.

8x + 4x = 18 combine like terms

12x = 18 divide by 12 on both sides

x = 18/12 or 3/2

now replace x in the first equation with 3/2 to get

y = 4 3/2

y = 6

the answer is a

(3/2,6)

hope that .

brainliest is always apprectiated