What is the APY for 6.45% compounded quarterly?

asked Apr 12, 2024 62.6k views

3 votes

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5 votes

Explanation:

6.45 % is .0645 per period is .0645/4 and 4 periods in a a year:

(1 + .0645/4)^4 -1 = .06607 = ~ 6.61 % APY

Ndemoreau answered Apr 16, 2024

9.1k points