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3 February, 22:06

If your APR is 2.1%, compound monthly. What is the actual annual percentage yield on this account?

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  1. 3 February, 23:12
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    The actual annual percentage yield on this account is

    R = (1+0.021:12) ^ (12) - 1

    R=0.0212 * 100

    R=2.12%
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