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Effective rate (APY) is: Never related to compound table Interest for one year divided by annual rate Interest for one year divided by principal for 2 years Interest for one year divided by principal None
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Effective rate (APY) is: Never related to compound table Interest for one year divided by annual rate Interest for one year divided by principal for 2 years Interest for one year divided by principal None of these

User Alex Waygood
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3 votes
APY=annual percentage yield
is the rate we get for depositing an amount for a year after taking into account compound interest.
Therefore it is the interest for one year divided b the principal.
User Dennis Zickefoose
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