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20 December, 02:34

Effective rate (APY) is: Never related to compound table Interest for one year divided by annual rate Interest for one year divided by principal for 2 years Interest for one year divided by principal None of these

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  1. 20 December, 02:58
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    APY=annual percentage yield

    is the rate we get for depositing an amount for a year after taking into account compound interest.

    Therefore it is the interest for one year divided b the principal.
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