Part 1: Explain which companies would advertise APR over APY and describe how this would help them attract customers. (4 points) 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. (4 points)

Question

Part 1: Explain which companies would advertise APR over APY and describe how this would help them attract customers. (4 points)  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. (4 points)

anonymous · Answer

because the apy is larger than the apr