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What is the APY for 6.45% compounded quarterly?

What is the APY for 6.45% compounded quarterly?
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What is the APY for 6.45% compounded quarterly?

User Gladhus
by
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1 Answer

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

User Ndemoreau
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