If the apr of a savings account is 3.6% and interest is compounded monthly, what is the approximate apy of the account?

3.66% ( approx )

Step-by-step explanation:

Since, the formula of annual percentage yield is,

Where,

r = stated annual interest rate,

n = number of compounding periods,

Here, r = 3.6% = 0.036,

n = 12 ( ∵ 1 year = 12 months )

Hence, the annual percentage yield is,

$25

step-by-step explanation:

25 - 4.50 = 20.5

20.5 / 2 = 10.25

10.25 + 10 = 20.25

20.25 - 12.50 = 7.75

therefore the answer is $25 as shown as the first number.