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Sagot :
The yield is 6.69% on an annualized basis.
The simple interest rate that results in the same amount of money in an account at the end of a year as when the account is exposed to compound interest at a specified rate is called effective annual yield. The information on investments or loans frequently includes the effective yearly yield.
The return produced each year is known as effective yield, also known as annual percentage yield, or APY.
Effective annual yield = [tex](\frac{1+nominalyield}{y} )^{n}[/tex] - 1
Effective annual yield = [tex](\frac{1 + 0.0658}{2})^{2}[/tex] - 1
Effective annual yield = [tex](1.0329)^{2}[/tex] - 1
Effective annual yield = 1.0669 - 1
Effective annual yield = 0.0669 or 6.69%
To learn more about effective annual yield
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