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?

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Aliwohaish12 Aliwohaish12

21-07-2017

APY=(1+r/k)^(k)-1

APY=(1+0.078÷12)^(12)−1
=0.0808×100
=8.08%

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rotenberryk21 rotenberryk21

20-04-2020

Answer:

8.08%

Step-by-step explanation:

a.p.e.x

Answer Link

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