## kaylababyy94 Please help me with Algebra. What is the purpose of APY? (1 point) for borrowers to compare the rates between different loans for investors to compare the interest rates between different investments for borrowers to calculate the yearly interest for investors to calculate the periodic interest rate one year ago one year ago

1. Lilmoney

I don't really know its either b or d

2. kaylababyy94

Well that doesn't help me.

3. Lilmoney

I'm sorry.

4. kaylababyy94

2. Danielle opens a credit card with an APR of 22.79% compounded monthly. How much is charged in interest this month if her balance is \$1550? (1 point) \$353.25 \$129.17 \$29.44 \$22.79 3. Expert Card has an APR of 20.4% compounded monthly. Passport has a daily periodic interest rate of 0.0425%. Explore has a monthly periodic interest rate of 1.55%. Which card has the higher APR? (1 point) Expert Card Passport Explore Expert Card and Explore are equally high 4. Earl opened a credit card at a department store with an APR of 20.95% compounded daily. What is the APY on this credit card? (1 point) 5.74% 23.30% 41.90% 46.29%