Time: 20 to 25 minutes · You'll need: a calculator with ln and eˣ keys (or a spreadsheet: LN and EXP) · Builds on: Lesson 20
Warm-up
Check yourself
In the formula (1 ÷ P)^(365 ÷ d) − 1, what is P measured in?
Check yourself
The contract stores a log implied rate r. How does the app turn it into an APY?