Section 1 - UW-Madison Department of Mathematics

6. The stated rate of interest for a specific length of time is called the: a. APY. b. effective rate. c. nominal rate. 7. Suppose your stock portfolio increased in value from $12,564 to $12,870 during a one-month period. What is the APY for your gains during this period? a. 29.2%. b. 32.6%. c. 33.5%. 8. Suppose you buy a new tractor for $70,000. ................
................