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-   -   Steps to calculate the APY of 4.6% (https://www.askmehelpdesk.com/showthread.php?t=453423)

  • Mar 2, 2010, 10:18 AM
    Fhough17
    Steps to calculate the APY of 4.6%
    A bank offers an APR of 4.6% compounded monthly
  • Mar 2, 2010, 10:21 AM
    Fhough17

    A bank offers an APR of 4.6% compounded monthly
  • Mar 2, 2010, 12:21 PM
    ArcSine
    APY =

    ... where n is the number of compounding periods per year. And be sure to express APR in decimal form in there.

    Likewise, the resulting answer will be in decimal form.

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