Mathematics
Kendrick515
2016-04-25 06:07:57
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
ANSWERS
esteskorrie865
2016-04-25 09:07:24

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.

ADD ANSWER