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  • 15-08-2016
  • Mathematics
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A bank offers an APR of 6.2% compounded daily .

the annual percentage yeild is ___% ?

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AL2006
AL2006 AL2006
  • 15-08-2016
The annual yield is

                 (1 + 0.062/365)³⁶⁵  =  1.06396

The percentage yield is therefore   6.396% .
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