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Lucia's bank offers a savings account with a 1.9% APR, compounded monthly. What is the actual percentage yield on this account?

Lucia's bank offers a savings account with a 1.9% APR, compounded monthly. What is the actual percentage yield on this account?
asked 28.3k views
3 votes
Lucia's bank offers a savings account with a 1.9% APR, compounded monthly. What is the actual percentage yield on this account?

asked
User Matt Cowley
by
8.1k points

2 Answers

3 votes

Answer: 1.92%

Step-by-step explanation:

{Apex }

answered
User Jibsteroos
by
7.9k points
7 votes
I've taken this quiz, 1.92% is the right answer.
answered
User Kmanzana
by
7.3k points
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