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1 year ago

Gerd+is+considering+an+account+that+earns+6%+interest+per+annum+compounded+monthly.+what+is+the+annual+percentage+yield+(apy)?

Business

2 answers:

ludmilkaskok [199]1 year ago

8 0

The annual percentage yield (APY) that Gerd will get is:

6.2%

The exact rate of return that an investor receives from an investment after compounding the values on a monthly basis is known as the annual percentage yield.

The nominal interest rate, the number of times the value is compounded annually, and the base of the logarithm are all taken into account by the formula used to calculate the annual percentage return.

After compounding Gerd's interest on a monthly basis, with this formula:

APY= (1 + r/n )n – 1,

The Annual percentage yield gotten is 6.2.

Learn more about annual percentage yield here:

brainly.com/question/11855598

#SPJ4

aleksandr82 [10.1K]1 year ago

4 0

Answer:

The answer is shown in the picture

Explanation:

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