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The APR of Estelle's savings account is 4.5% but interest is compounded only once a year. what is the APY of Israel's savings account?

The APR of Estelle's savings account is 4.5% but interest is compounded only once a year. what is the APY of Israel's savings account?
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The APR of Estelle's savings account is 4.5% but interest is compounded only once a year. what is the APY of Israel's savings account?

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User Carl Winder
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8.7k points

2 Answers

4 votes

It would be 4.5 since it's compounded yearly



answered
User Tenshi
by
7.3k points
3 votes
4.5% is the answer to yo problem ..
answered
User DDRamone
by
8.2k points
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