Homework Answers
The APR is (12/230)(365/5)
=381%
The APY is (1+ 381%/(365/5))^(365/5) - 1
= 3996%
Money in account as of start of the year and the end of the year:
| Year | Initial Balance | Final Balance |
| 1 | 350 | 490 |
| 2 | 490 | 686 |
| 3 | 686 | 960 |
| 4 | 960 | 1345 |
| 5 | 1345 | 1882 |
| 6 | 1882 | 2635 |
| 7 | 2635 | 3689 |
| 8 | 3689 | 5165 |
| 9 | 5165 | 7231 |
| 10 | 7231 | 10124 |
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