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11111nata11111 [884]
3 years ago
11

Effective rate (APY) is: Never related to compound table Interest for one year divided by annual rate Interest for one year divi

ded by principal for 2 years Interest for one year divided by principal None of these
Mathematics
1 answer:
ANEK [815]3 years ago
5 0
APY=annual percentage yield
is the rate we get for depositing an amount for a year after taking into account compound interest.   
Therefore it is the interest for one year divided b the principal.
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