Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Get quick and reliable solutions to your questions from a community of seasoned experts on our user-friendly platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

find the annual percentage yield apyA bank offers an apr of 2.5% compounded semiannually

Sagot :

Apr = 2.5% every 6 months

Use formula

N = N1 ( 1+ 2.5/100)^ 2

APY= (1 + r/2) ^2 - 1

. = ( 1 + 2.5/2) ^2 - 1

. = (2.25)^2 - 1

. = 4.0625

Then answer is

Annual percentage yield

APY = 4.06 %