Question

In dire need of help with APR and APY! Please Help!

Part 1: Explain which companies would advertise APR over APY and describe how this would help them attract customers.

Part 2: Create a unique APR (state how often the rate is compounded) and calculate the corresponding APY. Use a comparison of the two rates to verify your answer to part 1.

Answer 1

Can someone PLEASE help me out??

Answer 2

@Hero are you good with APR and APY?

Answer 3

Here, this should help you:
http://www.investopedia.com/articles/basics/04/102904.asp

Answer 4

Thanks, that helps with Part 1. (: Do you think you could help me out with creating an APR and calculate the APY?

Answer 5

1. Banks, credit institutions, loan offices

Answer 6

Thanks @kathy0514 (:

Answer 7

yw

Answer 8

On the website, they give you an example that you can use.

Answer 9

Try to understand the difference between both by reading the example and reviewing the parts where they describe the difference between both.

Answer 10

Oh okay, I see it. It makes more sense now. Thanks again!