dstebbins Posted October 10, 2011 Posted October 10, 2011 I you have a savings account with 1% APY and monthly compounding interest, what's the APR? Also, what would be the APR for a 1% APY savings account whose interest compounded quarterly, bi-monthly, semi-monthly, bi-weekly, weekly, and daily?
DrRocket Posted October 10, 2011 Posted October 10, 2011 I you have a savings account with 1% APY and monthly compounding interest, what's the APR? Also, what would be the APR for a 1% APY savings account whose interest compounded quarterly, bi-monthly, semi-monthly, bi-weekly, weekly, and daily? If this not a homework problem then it ought to be one.
khaled Posted October 11, 2011 Posted October 11, 2011 We won't do your homework, here is a reference that explains what is APR
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