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dolphi86 [110]
3 years ago
6

A bank offers an APR of 6.2% compounded daily .the annual percentage yeild is ___% ?

Mathematics
1 answer:
Pani-rosa [81]3 years ago
7 0
The annual yield is

                 (1 + 0.062/365)³⁶⁵  =  1.06396

The percentage yield is therefore   6.396% .
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