Lizzard
Lizzard
09-10-2014
Mathematics
contestada
What is the APY for 6.5% compounded daily
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nguyenruss
nguyenruss
09-10-2014
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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