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the apr of vinny's savings account is 3.5% , but interest is compounded only once a year. what is the apy of vinny's saving account?
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the apr of vinny's savings account is 3.5% , but interest is compounded only once a year. what is the apy of vinny's saving account?

User Mmeyer
by
7.5k points

2 Answers

6 votes

Answer:

just 3.5% I just did it on apex.

Explanation:

User Excel
by
7.7k points
3 votes
1+r=1+0.35
Solve for r you will get the same rate
The answer is 3.5%
User Bklimt
by
8.7k points
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