Mathematics, 09.02.2021 14:00 mariap3504

Ms. Santoro is opening a one-year CD for 16,000. The interest is compounded daily. She is told by the bank representative that the annual percentage rate (APR) is 1.8%.
What is the annual percentage yield (APY) for this account?

Ms. Santoro is opening a one-year CD for 16,000. The interest is compounded daily.

She is told by

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Ms. Santoro is opening a one-year CD for 16,000. The interest is compounded daily. She is told by the bank representative that the annual percentage rate (APR) is 1.8%. What is the annual percentage yield (APY) for this account?

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Ms. Santoro is opening a one-year CD for 16,000. The interest is compounded daily. She is told by the bank representative that the annual percentage rate (APR) is 1.8%.
What is the annual percentage yield (APY) for this account?