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dstebbins

What's the APR?

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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?

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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?

 

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

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