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Mrrafil [7]
3 years ago
13

What is the APY for 6.5% compounded daily

Mathematics
1 answer:
Jet001 [13]3 years ago
4 0
APY = (1 + r/n)^n - 1

r = interest rate
n= number of times compounded

APY = (1 +0.065/365)^365 - 1

= 6.715%
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