Question
What is the annual percentage yield (APY) for money invested at an annual rate of (A)...
What is the annual percentage yield (APY) for money invested at an annual rate of (A) 4.31% compounded monthly? (B) 4.32% compounded quarterly? (A) What is the annual percentage yield (APY) for money invested at an annual rate of 4.31% compounded monthly? The APY is nothing%. (Type an integer or decimal rounded to three decimal places as needed.)
Homework Answers
Answer #1
Solution:-
To Calculate Annual percentage Yield if Compounded Monthly-
Annual percentage Yield = 
Annual percentage Yield = 
Annual percentage Yield = 
Annual percentage Yield = 1.04396172 - 1
Annual percentage Yield = 4.396%
To Calculate Annual percentage Yield if Compounded Quarterly-
Annual percentage Yield =
Annual percentage Yield = 
Annual percentage Yield = 
Annual percentage Yield = 1.0439 - 1
Annual percentage Yield = 4.39%
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