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Assume an 18 month CD purchased for $7000 pays an APR of 7% compounded monthly. What is the APY?
APY = ___%
Round the answer to two decimal places
1 answer
Damon solved it for 5%. So, change to 7% and follow his steps.
Assume an 18 month CD purchased for $7000 pays an APR of 7% compounded monthly. What is the APY?
APY = ___%
Round the answer to two decimal places
1 answer
1 answer
2 answers
0 answers
1 answer