megansueholliday megansueholliday
  • 22-02-2024
  • Mathematics
contestada

Find the APY of 4% APR, compounded monthly.

Respuesta :

jsimpson11000 jsimpson11000
  • 22-02-2024

Step-by-step explanation:

MONTHLY decimal interest = .04/12

Periods 12

APY = ( 1+ .04/12)^12   -1   = .0407    or   4.07 %

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