megansueholliday megansueholliday
  • 22-02-2024
  • Mathematics
contestada

Find the APY of 10% APR, compounded semi-annually.

Respuesta :

jsimpson11000 jsimpson11000
  • 22-02-2024

Step-by-step explanation:

Periods per year = n = 2

Decimal Interest per period  i = .10/2

APY =   (1 + i)^n  -1

( 1 + .10/2)^2 -1  = .1025     or    10.25%  APY

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