Answer:
The actual annual percentage yield is 2.84 %
Step-by-step explanation:
Since, the actual annual yield rate is,
Where, r is the stated annual interest rate,
n is the number of compounding periods per year,
Here, r = 2.8 % = 0.028,
And, n = 12
Thus, the actual annual yield rate is,
Hence, the actual annual percentage yield is 2.84 % ( approx ).
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6
the top and the bottom line on the squares and with the top and the bottom line on both of the arrows
Your answer would be 7,560