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If your APR is 2.1% , compound monthly. What is the actual annual percentage yield on this account?
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If your APR is 2.1% , compound monthly. What is the actual annual percentage yield on this account?

User Nabarun
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the actual annual percentage yield on this account is

R=(1+0.021÷12)^(12)−1
R=0.0212 × 100
R=2.12%
User Rplevy
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