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If the APR of a savings account is 6.4% and interest is compounded quarterly what is the approximate APY of the account

If the APR of a savings account is 6.4% and interest is compounded quarterly what is the approximate APY of the account
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1 vote
if the APR of a savings account is 6.4% and interest is compounded quarterly what is the approximate APY of the account

asked
User Ianhi
by
7.6k points

2 Answers

6 votes

Answer:

The answer is 6.56% Apex

Explanation:

answered
User Denysdovhan
by
8.2k points
2 votes
6.56% is the approxoment apy


answered
User Shweta
by
8.2k points
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