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3 years ago

Of the APR of a savings account is 7.8% and interest in compounded monthly, what is the approximate APY of the account?

Mathematics

2 answers:

xxTIMURxx [149]3 years ago

8 0

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

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

andre [41]3 years ago

4 0

Answer:

8.08%

Step-by-step explanation:

a.p.e.x

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