Don't know what APY and APY mean, but I will assume you want the
equivalent annual rate to 10% per annum, compounded monthly.
let the annual rate be j
(1+j) = (1 + .10/12)^12
solve for j, let me know what you get.
Need help with this
---> I chose a APR of 10% compounded monthly, what is the corresponding APY?
1 answer
1 answer