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If the APR of a savings account is 1.9% and interest is compounded semiannually, what is the approximate APY of the account? Please help me

If the APR of a savings account is 1.9% and interest is compounded semiannually, what is the approximate APY of the account? Please help me
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If the APR of a savings account is 1.9% and interest is compounded semiannually, what is the approximate APY of the account? Please help me

User Dr Deo
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2 Answers

5 votes
Your answer would be 6.92%. Hope this helps!
User Takachi
by
8.0k points
3 votes

Answer: 1.9090% (apex)

User Manikandan K
by
8.3k points
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