dstebbins Posted October 10, 2011 Share 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? Link to comment Share on other sites More sharing options...
DrRocket Posted October 10, 2011 Share 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. Link to comment Share on other sites More sharing options...
khaled Posted October 11, 2011 Share Posted October 11, 2011 We won't do your homework, here is a reference that explains what is APR Link to comment Share on other sites More sharing options...
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