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An investment compounded continuously will be worth , where A is the investment in dollars, r is the annual interest rate, and t is the time in years. APY can be defined as
, the relative increase of worth in one year. Find the APY for an interest rate of 7%. Express the APY as a percent rounded to 2 decimal places.
Decomposed
The process by which organic substances are broken down into simpler organic or inorganic matter, primarily by the actions of microorganisms.
Scientific Theory
A well-substantiated explanation of some aspect of the natural world, based on a body of facts that have been repeatedly confirmed through observation and experiment.
Testable Prediction
A hypothesis or a statement that can be verified or refuted through experimentation or observation.
Oxygen Required
A condition where organisms need oxygen to survive, typically referring to aerobic organisms that use oxygen for respiration.
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