Question

The APR of Estell's savings account is 4.5%, but interest is compounded only once a year. What is they APY of Estell's savings account?

A. Greater than 4.5%
B. Greater than 1% but less than 4.5%
C. 1%
D. 4.5%

Answer 1

The correct answer between all the choices given is the last choice or letter D, which is 4.5%. I am hoping that this answer has satisfied your query and it will be able to help you in your endeavor, and if you would like, feel free to ask another question.