jess122 jess122
  • 21-07-2017
  • Mathematics
contestada

Of the APR of a savings account is 7.8% and interest in compounded monthly, what is the approximate APY of the account?

Respuesta :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 21-07-2017
APY=(1+r/k)^(k)-1

APY=(1+0.078÷12)^(12)−1
=0.0808×100
=8.08%
Answer Link
rotenberryk21 rotenberryk21
  • 20-04-2020

Answer:

8.08%

Step-by-step explanation:

a.p.e.x

Answer Link

Otras preguntas

what is the reciprocal of 10/9
according to Carnegie what were the revolutionary changes that made it possible for the poor to enjoy what the rich could not before afford?
What is situational irony?
What is the definition of chemical reaction??? I need help
How did written statements help define the revolution
choose any 3 digit number describe how to find the number that is 10 more
how many point of parallel sides does the trapezoid have
What is a large ball of gas that generates its own energy
Which is a property of every mixture? A.One substance dissolves in another substance. B.The molecules of one substance break down in the other. C.Different
Solve 5x3/4 as a mixed number, plz