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10 November, 22:52

What is the APY for 6.5% compounded daily

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  1. 11 November, 02:37
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    APY = (1 + r/n) ^n - 1

    r = interest rate

    n = number of times compounded

    APY = (1 + 0.065/365) ^365 - 1

    = 6.715%
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