SOLUTION: What is the annual percentage yield (APY) for money invested at an annual rate of
A 4.87% compounded monthly?
B 4.88% compounded quarterly?
What is the annual percentage
Algebra ->
Finance
-> SOLUTION: What is the annual percentage yield (APY) for money invested at an annual rate of
A 4.87% compounded monthly?
B 4.88% compounded quarterly?
What is the annual percentage
Log On
Question 1182604: What is the annual percentage yield (APY) for money invested at an annual rate of
A 4.87% compounded monthly?
B 4.88% compounded quarterly?
What is the annual percentage yield (APY) for money invested at an annual rate of 4.87% compounded monthly?
APY is %? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! a. This is (1+(.0487)/12))^12-1 or 0.0498, 4.98%
b. This is (1+(.0488/4))^4-1 or 0.0497, 4.97%
