3 years ago

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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The expressions simplify like this:

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