SOLUTION: Savings account A and savings account B both offer APRs of 2%, but savings account A compounds interest quarterly, while savings account B compounds interest monthly. Which savings

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Question 993444: Savings account A and savings account B both offer APRs of 2%, but savings account A compounds interest quarterly, while savings account B compounds interest monthly. Which savings account offers the higher APY?
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


For a given APR, the more frequently you compound, the higher the APY.

John

My calculator said it, I believe it, that settles it