Effective rate (APY) is: Never related to compound table Interest for one year divided by annual rate Interest for one year divided by principal for 2 years Interest for one yea…

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Dennis Zickefoose · Answer 1 · 2018-08-29T14:20:02+0000

APY=annual percentage yield
is the rate we get for depositing an amount for a year after taking into account compound interest.
Therefore it is the interest for one year divided b the principal.

Effective rate (APY) is: Never related to compound table Interest for one year divided by annual rate Interest for one year divided by principal for 2 years Interest for one yea…

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