What's the APR?

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What's the APR? Rate Topic:

#1 10 October 2011 - 03:41 AM dstebbins

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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?

Posts: 299 | Joined: 26-January 06
Back to top of the page up there ^
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#2 10 October 2011 - 06:08 AM DrRocket

Primate

dstebbins, on 10 October 2011 - 03:41 AM, said:

If this not a homework problem then it ought to be one.

You can know the name of a bird in all the languages of the world, but when you're finished, you'll know absolutely nothing whatever about the bird... -- Richard P. Feynman